Section 10. Particulars to be furnished in respect of superannuation funds

10. Particulars to be furnished in respect of superannuation funds. —The trustees of an approved superannuation fund and any employer who contributes to an approved superannuation fund shall, when required by notice from the[1] [Assessing Officer], within such period, not being less than twenty-one days from the date of the notice, as may be specified in the notice, furnish such return, statement, particulars or information, as the[1] [Assessing Officer] may require. CHAPTER III INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME 10. Incomes not included in total income .—In computing the total income of a previous year of any person, any income falling within any of the following clauses shall not be included— - (1) agricultural income; (2)[1] [subject to the provisions of sub-section (2) of section 64,] any sum received by an individual as a member of a Hindu undivided family, where such sum has been paid out of the income of the family, or, in the case of any impartible estate, where such sum has been paid out of the income of the estate belonging to the family; 2[(2A) in the case of a person being a partner of a firm which is separately assessed as such, his share in the total income of the firm. Explanation .—For the purposes of this clause, the share of a partner in the total income of a firm separately assessed as such shall, notwithstanding anything contained in any other law, be an amount which bears to the total income of the firm the same proportion as the amount of his share in the profits of the firm in accordance with the partnership deed bears to such profits;] 3* * * * * 4[(4) (i) in the case of a non-resident, any income by way of interest on such securities or bonds as the Central Government may, by notification in the Official Gazette, specify in this behalf, including income by way of premium on the redemption of such bonds: 10. The Explanation inserted by Act 67 of 1984, s. 4 (w.e.f. 1-4-1976). 11. Subs. by Act 4 of 1988, s. 6, for clause (14) (w.e.f. 1-4-1989). exclusively incurred in the performance of the duties of an office or employment of profit,[1] [as may be prescribed], to the extent to which such expenses are actually incurred for that purpose; (ii) any such allowance granted to the assessee either to meet his personal expenses at the place where the duties of his office or employment of profit are ordinarily performed by him or at the place where he ordinarily resides, or to compensate him for the increased cost of living,[2] [as may be prescribed and to the extent as may be prescribed]:] 3[Provided that nothing in sub-clause (ii) shall apply to any allowance in the nature of personal allowance granted to the assessee to remunerate or compensate him for performing duties of a special nature relating to his office or employment unless such allowance is related to the place of his posting or residence;] 4* * * * * (15)[5] [(i) income by way of interest, premium on redemption or other payment on such securities, bonds, annuity certificates, savings certificates, other certificates issued by the Central Government and deposits as the Central Government may, by notification in the Official Gazette, specify in this behalf, subject to such conditions and limits as may be specified in the said notification; 5[Provided that the Central Government shall not specify, for the purposes of this sub-clause, such securities or bonds on or after the 1st day of June, 2002;] 6[(ii) in the case of an individual, any income by way of interest on moneys standing to his credit in a Non-Resident (External) Account in any bank in India in accordance with[7] [the Foreign Exchange Management Act, 1999 (42 of 1999)], and the rules made thereunder: Provided that such individual is a person resident outside India as defined in[8] [clause (w)] ofsection 2of the said Act or is a person who has been permitted by the Reserve Bank of India to maintain the aforesaid Account;]] 9* * * * * 10[(4B) in the case of an individual, being a citizen of India or a person of Indian origin, who is a non-resident, any income from interest on such[11] [savings certificates issued before the 1st day of June, 2002] by the Central Government as that Government may, by notification in the Official Gazette, specify in this behalf: Provided that the individual has subscribed to such certificates in convertible foreign exchange remitted from a country outside India in accordance with the provisions of[7] [the Foreign Exchange Management Act, 1999 (42 of 1999)], and any rules made thereunder. Explanation .—For the purposes of this clause,— (a) a person shall be deemed to be of Indian origin if he, or either of his parents or any of his grandparents, was born in undivided India; 10. The Explanation renumbered as Explanation 1 thereof by Act 23 of 2012, s. 57 (w.e.f. 1-7-2012). 11. Ins. by s. 57, ibid. (w.e.f. 1-7-2012). 1 [ CHAPTER XIIFA SPECIAL PROVISIONS RELATING TO BUSINESS TRUSTS 6[(iib) 7[in the case of an individual or a Hindu undivided family,] interest on such Capital Investment Bonds as the Central Government may, by notification in the Official Gazette, specify in this behalf:] 8[Provided that the Central Government shall not specify, for the purposes of this sub-clause, such Capital Investment Bonds on or after the 1st day of June, 2002;] 9[(iic) in the case of an individual or a Hindu undivided family, interest on such Relief Bonds as the Central Government may, by notification in the Official Gazette, specify in this behalf;] 10[(iid) interest on such bonds, as the Central Government may, by notification in the Official Gazette, specify, arising to— (a) a non-resident Indian, being an individual owning the bonds; or (b) any individual owning the bonds by virtue of being a nominee or survivor of the nonresident Indian; or (c) any individual to whom the bonds have been gifted by the non-resident Indian: Provided that the aforesaid bonds are purchased by a non-resident Indian in foreign exchange and the interest and principal received in respect of such bonds, whether on their maturity or otherwise, is not allowable to be taken out of India: Provided further that where an individual, who is a non-resident Indian in any previous year in which the bonds are acquired, becomes a resident in India in any subsequent year, the provisions of this sub-clause shall continue to apply in relation to such individual: 1. Ins. by Act 42 of 1970, s. 3 (w.e.f. 1-4-1971). 2. Ins. by Act 18 of 1992, s. 4 (w.e.f. 1-4-1993). Earliar inserted by Act 4 of 1988, s. 6 and omitted by Act 3 of 1989, s. 95 (w.e.f. 1-4-1989). 3. Clause (3) omitted by Act 20 of 2002, s. 4 (w.e.f. 1-4-2003). 4. Subs. by Act 4 of 1988, s. 6, for clauses (4) and (4A) (w.e.f. 1-4-1989). 5. Ins. by Act 20 of 2002, s. 4 (w.e.f. 1-4-2003). 6. Subs. by Act 49 of 1991, s. 5, for sub-clause (ii) (w.e.f. 1-4-1991). 7. Subs. by Act 17 of 2013, s. 4, for "the Foreign Exchange Regulation Act, 1973 (46 of 1973)" (w.e.f. 1-4-2013). 8. Subs. by Act 7 of 2017, s. 6, for "clause (q)" (w.e.f. 1-4-2013). 10. Property exempt from attachment. —(1) All such property as is by the Code of Civil Procedure, 1908 (5 of 1908), exempted from attachment and sale in execution of a decree of a civil court shall be exempt from attachment and sale under this Schedule. (2) The Tax Recovery Officer's decision as to what property is so entitled to exemption shall be conclusive. 1. Subs. by Act 22 of 1995, s. 4, for "as the Central Government may, by notification in the Official Gazette, specify" (w.e.f. 1-7-1995). 2. Subs. by s. 4, ibid., for "as the Central Government may, by notification in the Official Gazette, specify, to the extent specified in the notification" (w.e.f. 1-7-1995). 3. Added by Act 36 of 1989, s. 4 (w.e.f. 1-4-1989). 4. Clause (14A) omitted by Act 20 of 2002, s. 4 (w.e.f. 1-4-2003). 5. Subs. by Act 4 of 1988, s. 6, for clause (i), (ia), (ib), (ii) and (iia) (w.e.f. 1-4-1989). 6. Ins. by Act 14 of 1982, s. 4 (w.e.f. 1-4-1983). 7. Subs. by Act 11 of 1983, s. 5, for "interest or such capital interest" (w.e.f. 1-4-1983). 8. Ins. by Act 20 of 2002, s. 4 (w.e.f. 1-4-2003). 9. Ins. by Act 26 of 1988, s. 4 (w.e.f. 1-4-1989). 10. Ins. by Act 3 of 1989, s. 4 (w.e.f. 1-4-1989). Provided also that in a case where the bonds are encashed in a previous year prior to their maturity by an individual who is so entitled, the provisions of this sub-clause shall not apply to such individual in relation to the assessment year relevant to such previous year: 1[Provided also that the Central Government shall not specify, for the purposes of this sub-clause, such bonds on or after the 1st day of June, 2002.] Explanation .—For the purposes of this sub-clause, the expression "non-resident Indian" shall have the meaning assigned to it in clause (e) of section 115C;] (iii) interest on securities held by the Issue Department of the Central Bank of Ceylon constituted under the Ceylon Monetary Law Act, 1949; 2[(iiia) interest payable to any bank incorporated in a country outside India and authorised to perform central banking functions in that country on any deposits made by it, with the approval of the Reserve Bank of India, with any scheduled bank. Explanation .—For the purposes of this sub-clause, "scheduled bank" shall have the meaning assigned to it in[3] [clause (ii) of the Explanation to clause (viia) of sub-section (1) of section 36];] 4[(iiib) interest payable to the Nordic Investment Bank, being a multilateral financial institution constituted by the Governments of Denmark, Finland, Iceland, Norway and Sweden, on a loan advanced by it to a project approved by the Central Government in terms of the Memorandum of Understanding entered into by the Central Government with that Bank on the 25th day of November, 1986;] 5[(iiic) interest payable to the European Investment Bank, on a loan granted by it in pursuance of the framework-agreement for financial co-operation entered into on the 25th day of November, 1993 by the Central Government with that Bank;] (iv) interest payable— 6 [(a) by Government or a local authority on moneys borrowed by it before the 1st day of June, 2001 from, or debts owed by it before the 1st day of June, 2001 to, sources outside India;] 10. Deduction at source of tax payable on accumulated balance. —The trustees of a recognised provident fund, or any person authorised by the regulations of the fund to make payment of accumulated balances due to employees, shall, in cases where sub-rule (1) of rule 9 applies, at the time an accumulated balance due to an employee is paid, deduct therefrom the amount payable under that rule and all the provisions of Chapter XVII-B shall apply as if the accumulated balance were income chargeable under the head "Salaries". (b) by an industrial undertaking in India on moneys borrowed by it under[7] [a loan agreement entered into before the 1st day of June, 2001 with any such financial institution] in a foreign country as may be approved in this behalf by the Central Government by general or special order; (c) by an industrial undertaking in India on any moneys borrowed or debt incurred by it 8[before the 1st day of June, 2001] in a foreign country in respect of the purchase outside India of raw materials[9] [or components] or capital plant and machinery,[10] [to the extent to which such interest does not exceed the amount of interest calculated at the rate approved by the Central Government in this behalf, having regard to the terms of the loan or debt and its repayment.] [9] [[11] [ Explanation 1.]—For the purposes of this item, "purchase of capital plant and machinery" includes the purchase of such capital plant and machinery under a hire-purchase agreement or a lease agreement with an option to purchase such plant and machinery.] 1. Ins. by Act 20 of 2002, s. 4 (w.e.f. 1-4-2003). 2. Ins. by Act 32 of 1985, s. 4 (w.e.f. 1-4-1985). 3. Subs. by Act 4 of 1988, s. 126, for "the Explanation to clause (iii) of sub-section (6) of section 11" (w.e.f. 1-4-1989). 4. Ins. by Act 54 of 2003, s. 2 (w.e.f. 1-4-2001). 5. Ins. by Act 23 of 2004, s. 5 (w.e.f. 1-4-2005). 6. Subs. by Act 14 of 2001, s. 5, for item (a) (w.e.f. 1-4-2002). 7. Subs. by s. 5, ibid ., for "a loan agreement entered into with any such financial institution" (w.e.f. 1-4-2002). 8. Subs. by s. 5, ibid ., for "moneys borrowed or debt incurred by it" (w.e.f. 1-4-2002). 9. Ins. by Act 11 of 1983, s. 5 (w.e.f. 1-4-1983). 10. Subs. by Act 5 of 1964, s. 6, for "in any case where the loan or debt is approved by the Central Government, having regard to its terms generally and in particular to the terms of its repayment" (w.e.f. 1-4-1964).