Declare your exempt incomes
Exempt income is income that isn’t taxed, such as provident fund maturity, NPS withdrawals, NRE account interest, or life insurance payouts. Even though it’s tax-free, you still report it in your return so your filing is complete and matches the details the Income Tax Department already has.
On Quicko, exempt income is grouped into five categories — Insurance, Interest Income, NPS & UPS, Provident Fund, and Other Exempt Income. You add each income under the category it belongs to.
Note: Each income type shows the relevant section of the Income Tax Act, such as 10(11) for statutory provident fund (PPF). Use the section code to find the right option if you know your income by its section.
Steps to add Exempt Income
1. Navigate to File > Incomes > Other Incomes,
then select Exempt Income.
2. Select the category your income belongs to, such as Interest
Income or Provident Fund.
3. Then choose the income type from the Exempt Income dropdown.
4. Enter the Amount, add an optional Description,
and select Save.
You can add as many entries as you need under each category.
Income types you can report
• Insurance: Life Insurance Maturity — section 10(10D)
• Interest Income: EPF Interest — 10(12); PPF Interest — 10(11); NRE Account Interest — 10(4)(ii)
• NPS & UPS: NPS Maturity — 10(12A); NPS Partial Withdrawal — 10(12B); NPS Partial Withdrawal (Minor’s Account) — 10(12BA); UPS Maturity — 10(12AA)
• Provident Fund: EPF Maturity — 10(12); PPF Maturity — 10(11)
• Other Exempt Income: HUF Share — 10(2); Sukanya Samriddhi Yojana Maturity — 10(11A)
Edit or delete an entry
1. Open the category and select the three-dot menu on the entry’s card.
2. Select Edit to update the details, or Delete to remove the entry.
To clear every entry in a category at once, select the three-dot menu next to Add and choose Delete all.
Need Help?
Raise a ticket to get in touch with us.
Steps to add Exempt Income
1. Navigate to File > Incomes > Other Incomes, then select Exempt Income.
2. Select the category your income belongs to, such as Interest Income or Provident Fund.
3. Then choose the income type from the Exempt Income dropdown.
4. Enter the Amount, add an optional Description, and select Save.
You can add as many entries as you need under each category.
Income types you can report
• Insurance: Life Insurance Maturity — section 10(10D)
• Interest Income: EPF Interest — 10(12); PPF Interest — 10(11); NRE Account Interest — 10(4)(ii)
• NPS & UPS: NPS Maturity — 10(12A); NPS Partial Withdrawal — 10(12B); NPS Partial Withdrawal (Minor’s Account) — 10(12BA); UPS Maturity — 10(12AA)
• Provident Fund: EPF Maturity — 10(12); PPF Maturity — 10(11)
• Other Exempt Income: HUF Share — 10(2); Sukanya Samriddhi Yojana Maturity — 10(11A)
Edit or delete an entry
1. Open the category and select the three-dot menu on the entry’s card.
2. Select Edit to update the details, or Delete to remove the entry.
To clear every entry in a category at once, select the three-dot menu next to Add and choose Delete all.
Need Help?
Raise a ticket to get in touch with us.
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