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Income Tax Exemption under Section 10(10BC) of Income Tax Act, 1961


Eligible Assessee

Any Individual or his legal heirs


Nature of Income

Any compensation received from State or Central Government on account of any disaster




Amount Exempt

Entire amount


Conditions laid down for Tax Exemption

  1. In case if the assessee is allowed deductions under the IT Act for any payment in connection with any loss or damage caused by such disaster, the same shall not be allowed under this clause.

  2. The expression "disaster" shall have a meaning as defined under section 2(d) of Disaster Management Act, 2005.

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