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.

frequently asked

Is Schedule V of the Income-tax Act, 2025 a new provision?

No — it derives from Section 10 of the Income-tax Act, 1961.

What does Schedule V of the Income-tax Act, 2025 deal with?

Schedule V — "INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF CERTAIN ELIGIBLE PERSONS INCLUDING INVESTMENT FUNDS, BUSINESS TRUSTS AND THEIR UNIT HOLDERS", under SCHEDULE of the Income-tax Act, 2025.

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Nexus answers full tax questions the same way — a citation-grounded advisory artifact with verdict, authority chain, computation and drafting, every citation traceable to an official source.

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same chapter · schedule · income-tax act, 2025

Schedule II — INCOME NOT TO BE INCLUDED IN TOTAL INCOME
Schedule III — INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF ELIGIBLE PERSONS
Schedule IV — INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF ELIGIBLE NON-RESIDENTS, FOREIGN COMPANIES AND OTHER SUCH PERSONS
Schedule IX — Deduction for tea development account, coffee development account and rubber development account for computing income under the head “profits and gains of business or profession”
Schedule VI — INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF CERTAIN ELIGIBLE PERSONS IN INTERNATIONAL FINANCIAL SERVICES CENTRE OR HAVING INCOME THEREFROM
Schedule VII — PERSONS EXEMPT FROM TAX
Schedule VIII — Income not to be included in the total income of political parties and electoral trusts
Schedule X — Deduction for site restoration fund for computing income under the head “profits and gains of business or profession”

frequently looked up · income-tax act, 2025

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