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Schedule V — INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF CERTAIN ELIGIBLE PERSONS INCLUDING INVESTMENT FUNDS, BUSINESS TRUSTS AND THEIR UNIT HOLDERS: its source in the Income-tax Act, 1961
Schedule V (INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF CERTAIN ELIGIBLE PERSONS INCLUDING INVESTMENT FUNDS, BUSINESS TRUSTS AND THEIR UNIT HOLDERS) of the Income-tax Act, 2025 corresponds to Section 10 (Incomes not included in total income) of the Income-tax Act, 1961 as per the official CBDT correspondence.
source provisions · income-tax act, 1961
- Section 10 — Incomes not included in total income
clause-by-clause (official)
| ITA 2025 | provision | from ITA 1961 |
|---|---|---|
| Schedule V(1) | Investment Funds: Any income other than the income chargeable under the head “Profits and gains of business or profession” | 10(23FBA) |
| Schedule V(2) | Any income referred to in section 224, accruing or arising to, or received being that proportion of income which is of the same nature as income chargeable under the head “Profits and gains of business or profession”: Unit holder of investment fund | 10(23FBB) |
| Schedule V(3) | Any income by way of— - (a) interest received or receivable from a special purpose vehicle; or - (b) dividend received or receivable from a special purpose vehicle: Business Trust | 10(23FC) |
| Schedule V(4) | Any income by way of renting or leasing or letting out any real estate asset owned directly by such: Business Trust/Real Estate Investment trust | 10(23FCA) |
| Schedule V(5) | Any distributed income referred to in section 223: - Unit holder of Business Trust | 10(23FD) |
| Schedule V(6) | Any income from investment in a venture capital undertaking | 10(23FB) |
| Schedule V(7) | Any income of the nature of–– - (a) dividend; - (b) interest; - (c) any sum referred to in section 92(2)(k); or - (d) long-term capital gains - (whether or not such capital gains are deemed as short-term capital gains under section 76), arising from an investment made by a specified person in India, whether in the form of debt or share capital or unit : Abu Dhabi Investment authority/sovereign wealth or Pension Fund | 10(23FE) |
| Schedule V(8) | Any income falling under section 10(23F) and (23FA) of the Income-tax Act, 1961 (43 of 1961), subject to the conditions as specified therein | 10(23F), 10(23FA) |
read both texts · §10 (1961) vs §Schedule V (2025)
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Source: the CBDT’s official 1961↔2025 correspondence table (incometaxindia.gov.in), captured 2026-07-21. This is a research aid — verify against the official CBDT utility ↗ before professional reliance.
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