Section 10(3) in The Income- Tax Act, 1995

Central Government Act

(3) 3[ any receipts which are of a casual and non- recurring nature, 4[ to the extent such receipts do not exceed five thousand rupees in the aggregate:] 5[ Provided that where such receipts relate to winnings from races including horse races, the provisions of this clause shall have effect as if for the words" five thousand rupees", the words" two thousand five hundred rupees" had been substituted: Provided further that this clause shall not apply to-

(i) capital gains chargeable under the provisions of section 45; or

1. Inserted by the Taxation Laws (Amendment) Act, 1970 w. e. f. 1- 4- 1971

2. Inserted by the Finance Act, 1992, w. e. f. 1- 4- 1993. Earlier, clause (2A) was inserted by the Direct Tax Laws (Amendment) Act, 1987, w. e. f. 1- 4- 1989 but was omitted by the Direct Tax Laws (Amendment) Act, 1989, with effect from the same date.

3. Substituted by the Finance Act, 1972, w. e. f. 14- 1972. Section 59 of the said Finance Act has made the following special provision in this regard:" 59. Certain casual and non- recurring receipts not to be included in the total income for the assessment year 1972 - 73.- Notwithstanding the amendments made by this Act to the Income- tax Act, in computing, in the case of any person, the total income of a previous year relevant to the assessment year commencing on the 1st day of April, 1972, any income falling within clause (3) of section 10 of the Income- tax Act as it stood immediately before the 1st day of April, 1972, shall not be included."

4. Substituted for' not being winnings from lotteries, to the extent such receipts do not exceed one thousand rupees in the aggregate' by the Finance Act, 1986, w. e. f. 1- 4- 1987.

5. Substituted for' Provided that' by the Finance Act, 1992, w. e. f. 1- 4- 1992.

(ii) receipts arising from business or the exercise of a profession or occupation; or

(iii) receipts by way of addition to the remuneration of an employee;] I[]