Retirement or Gratuity 

Any amount received under Retirement or Gratuity by an individual. In case of death, gratuity of the deceased is passed on to widow, children or dependents who are not taxed.
 
Life Insurance Policy
Bonus or any profit received from a life insurance policy is not included for payment of income tax.

Voluntary Retirement

A company paying VRS should follow a certain framework for VRS as directed by the government. An amount up to of Rs 500,000 paid at the time of voluntary retirement is not taxable only if it is in accordance of rights and scheme of voluntary retirement of the company.

Retrenchment

Any amount received, when the company is closed or there is any change in the management, if the company is offering less than what was previously applicable.

Agricultural Income
 
Income generated from any agricultural activity is not included in total income. However, if the primary product is modified and the final product is sold, such income derived from selling the modified product is taxable.

Income from Partnership

Income received from being a partner in a firm and payment or profits received from that is not included under Income Tax Act. Provided that has been filed separately.

Travel concession
Amount which you receive from your company for the purpose of travel to any place in India along with your family for the purpose of leave. This can be availed two times in a span of 4 years.

Leave Income

If you have loads of leave, you can encash them upto the limit ten months worth of earned leave. However, leave you earned should not exceed 30 days for each year of service.
 For Central and State government employees, cash received as compensation for earned leave which is encashed at the time of retirement are not taxable.

Provident Fund

Amount paid towards provident fund to which the PF Act applicable or any PF fund of the government, interest earned on PF is also not taxable.

Superannuation

Any amount payed or received towards superannuation fund is not taxable.

Scholarships

Scholarships for education are not taxable under Income Tax Act.
 
Awards and rewards: Any payments received in cash or kind from the State government and central government, will not be included in the total income.