Any type of income tax exemption including tape

Tape or any other form of electro-magnetic data storage device business includes any trade, commerce or manufacture or any adventure or concern in the nature of trade, commerce or manufacture. More clarity can be gathered at 12a registration.

Capital assets are any type of property owned by an assessee, whether or not they are related to his company or profession, but do not include the following:-

(i) any raw supplies, consumable goods, or stock-in-trade kept for the benefit of his profession or place of business;

(ii) personal effects, also known as moveable property kept for personal use by the assessee or any member of his family who is dependent on him, are defined as items such as clothing and furniture but not jewellery;

In this context, "jewellery" refers to ornaments made of gold, silver, platinum, or any other precious metal, or any alloy comprising one or more of these precious metals, whether or not consisting any precious or semi-precious marble, and whether or not performed into or sewn into any wearing apparel, as well as precious or semi-precious marbles, whether or not placed in any furniture, utensil, or other article, or performed into or sewn into any carrying apparel;

(iii) agricultural land in India that is not located in an area that is under the control of a cantonment board or municipality (whether referred to as a municipality, municipal corporation, notified area committee, town area committee, or by any other name) and has a population of at least 10,000 as of the most recent census, the results of which were published by the 80gga before the first day of the previous year.

You can browse our url for 80g. 

See Taxmann's Master Guide to Income-tax Act for pertinent case law references.

See Taxmann's Direct Taxes Manual, Vol. 3 for definitions of the phrases "business," "trade," "adventure," and "in the nature of commerce." See Taxmann's Direct Taxes Manual Vol. 3. 49, which the Finance Act replaced with, for the definition of the word "property." The terms "personal effects" and "personal usage" are defined in Taxmann's Direct Taxes Manual, which the Finance Act superseded for agricultural land in India. Refer to Volume 3 of Taxmann's Direct Taxes Manual for definitions of the phrases or expressions "agricultural land," "municipality," and "population."