Exclusion From Gross Income

Question 1

Exemp from Taxation (Exclusions from Gross Income)

Answer 1

1. Proceeds from life insurance
2. Amount received by the insured as a return of premium
3. Gifts, Bequest, and Devises or Descent
4. Compensation for injuries and sickness
5. Income exempt uner treaty
6. Retirement benefits, pensions, gratuities, and other benefits