IT Act 1961 → 2025 / Section 10 clauses for exempt entities
Charitable trustsPM CARES, 10(23C) institutions, mutual funds, provident and gratuity funds, commodity boards, NPS Trust — exempt entities
Section 10 clauses for exempt entities of the old Income-tax Act, 1961 · new Schedule VII under the Income-tax Act, 2025
New reference Section 11 read with Schedule VII (persons exempt from tax)
Applies to FY 2025-26 (AY 2026-27) and earlier years.
Applies from tax year 2026-27 (from 1 April 2026).
| 1961 Act | Subject | 2025 Act |
|---|---|---|
| 10(23AA) | Regimental and non-public funds of armed forces | Schedule VII S.No. 1 |
| 10(23AAA) | Notified funds for welfare of employees | Schedule VII S.No. 2 |
| 10(23AAB) | LIC/insurer pension fund (notified) | Schedule VII S.No. 3 |
| 10(23BB) | Khadi and Village Industries Boards (State) | Schedule VII S.No. 4 |
| 10(23BBA) | Bodies administering religious/charitable endowments | Schedule VII S.No. 5 |
| 10(23BBC) | SAARC Fund for Regional Projects | Schedule VII S.No. 6 |
| 10(23BBE) | IRDAI | Schedule VII S.No. 7 |
| 10(23BBG) | Central Electricity Regulatory Commission | Schedule VII S.No. 8 |
| 10(23BBH) | Prasar Bharati | Schedule VII S.No. 9 |
| 10(23C)(i) | PM National Relief Fund / PM CARES Fund | Schedule VII S.No. 10 |
| 10(23C)(ii) | PM's Fund (Promotion of Folk Art) | Schedule VII S.No. 11 |
| 10(23C)(iii) | PM's Aid to Students Fund | Schedule VII S.No. 12 |
| 10(23C)(iiia) | National Foundation for Communal Harmony | Schedule VII S.No. 13 |
| 10(23C)(iiiaa) | Swachh Bharat Kosh | Schedule VII S.No. 14 |
| 10(23C)(iiiaaa) | Clean Ganga Fund | Schedule VII S.No. 15 |
| 10(23C)(iiiaaaa) | CM's / LG's Relief Fund | Schedule VII S.No. 16 |
| 10(23C)(iiiab) | Government-financed universities and institutions | Schedule VII S.No. 17 |
| 10(23C)(iiiac) | Government-financed hospitals | Schedule VII S.No. 18 |
| 10(23C)(iiiad)/(iiiae) | Small educational institutions and hospitals (receipts up to ₹5 crore) | Schedule VII S.No. 19 |
| 10(23D)(i) | SEBI-registered mutual funds | Schedule VII S.No. 20 |
| 10(23D)(ii) | Notified mutual funds of public sector banks/RBI | Schedule VII S.No. 21 |
| 10(25)(ii) | Recognised provident fund | Schedule VII S.No. 22 |
| 10(25)(iii) | Approved superannuation fund | Schedule VII S.No. 23 |
| 10(25)(iv) | Approved gratuity fund | Schedule VII S.No. 24 |
| 10(25)(v)(a) | Deposit-linked Insurance Fund — Coal Mines PF | Schedule VII S.No. 25 |
| 10(25)(v)(b) | Deposit-linked Insurance Fund — EPF Act | Schedule VII S.No. 26 |
| 10(25A) | Employees' State Insurance Fund | Schedule VII S.No. 27 |
| 10(26AAB) | Agricultural produce market committees/boards | Schedule VII S.No. 28 |
| 10(26B) | Corporations for SC/ST/backward classes | Schedule VII S.No. 29 |
| 10(26BB) | Corporations for minority communities | Schedule VII S.No. 30 |
| 10(26BBB) | Corporations for ex-servicemen | Schedule VII S.No. 31 |
| 10(27) | Co-operative societies of SC/ST members | Schedule VII S.No. 32 |
| 10(29A)(a) | Coffee Board | Schedule VII S.No. 33 |
| 10(29A)(b) | Rubber Board | Schedule VII S.No. 34 |
| 10(29A)(c) | Tea Board | Schedule VII S.No. 35 |
| 10(29A)(d) | Tobacco Board | Schedule VII S.No. 36 |
| 10(29A)(e) | Marine Products Export Development Authority | Schedule VII S.No. 37 |
| 10(29A)(f) | APEDA | Schedule VII S.No. 38 |
| 10(29A)(g) | Spices Board | Schedule VII S.No. 39 |
| 10(29A)(h) | Coir Board | Schedule VII S.No. 40 |
| 10(44) | New Pension System Trust | Schedule VII S.No. 41 |
| 10(46A) | Notified statutory bodies for housing/development | Schedule VII S.No. 42 |
| 10(46B)(i) | National Credit Guarantee Trustee Company | Schedule VII S.No. 43 |
| 10(46B)(ii) | Government-financed credit guarantee funds | Schedule VII S.No. 44 |
| 10(46B)(iii) | CGTMSE | Schedule VII S.No. 45 |
| 10(47) | Infrastructure debt fund | Schedule VII S.No. 46 |
| 10(48D) | NaBFID (infrastructure financing institution) | Schedule VII S.No. 47 |
| 10(48E) | Developmental financing institutions (RBI-licensed) | Schedule VII S.No. 48 |
Source: CBDT mapping of sections, Income-tax Act 1961 to Income-tax Act 2025.
Moved into a single list of exempt persons. Funds and institutions approved under 10(23C)(iv)–(via) are not in this list; since FA 2024 they migrate to registration, and registered non-profit organisations are governed by sections 332–355.
Yes for the clauses (i) to (iiiae) entities — they are Schedule VII S.No. 10 to 19. Funds and institutions approved under 10(23C)(iv), (v), (vi) and (via) fall under the registered non-profit organisation provisions (sections 332–355).
Recognised PF, approved superannuation and gratuity funds are Schedule VII, S.No. 22 to 24.
Section 10(23AA) of the Income-tax Act, 1961 (Regimental and non-public funds of armed forces) corresponds to section Schedule VII S.No. 1 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 10(23AAA) of the Income-tax Act, 1961 (Notified funds for welfare of employees) corresponds to section Schedule VII S.No. 2 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 10(23AAB) of the Income-tax Act, 1961 (LIC/insurer pension fund (notified)) corresponds to section Schedule VII S.No. 3 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 10(23BB) of the Income-tax Act, 1961 (Khadi and Village Industries Boards (State)) corresponds to section Schedule VII S.No. 4 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 10(23BBA) of the Income-tax Act, 1961 (Bodies administering religious/charitable endowments) corresponds to section Schedule VII S.No. 5 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 10(23BBC) of the Income-tax Act, 1961 (SAARC Fund for Regional Projects) corresponds to section Schedule VII S.No. 6 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Moved into a single list of exempt persons. Funds and institutions approved under 10(23C)(iv)–(via) are not in this list; since FA 2024 they migrate to registration, and registered non-profit organisations are governed by sections 332–355.