Notification of Entities for exemption u/s 10(46) of Income Tax

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CBDT has via Notifications issued on 08.10.2018, notified some entities for exemption under section 10(46) of the Income Tax Act, 1961, from the specified income arising to these entities.

However, such exemption is subject to the condition that the Board shall not engage in any commercial activity, activities and the nature of specified income shall remain unchanged throughout the financial years and the Board shall file income tax return of income in accordance with the provision of clause (g) of sub- section (4C) of section 139 of the Income-tax Act, 1961.

Specified Nature of Income arising to the Board for exemption u/s 10(46)

 

Notification No. 61/2018 – Notifying ‘Hyderabad Metropolitan Water Supply and Sewerage Board’, Hyderabad

Applicable to AYs – 2017-18, 2018-19, 2019-20, 2020-21 & 2021-22

(a) Grants received from state government;

(b) Water Cess;

(c) Sewerage Cess;

(d) Receipts from New connection charges, reconnection charges and disconnection charges;

(e) Interest and penalty on delayed payment of water cess;

(f) Receipts from supply of water via tankers;

(g) Income through sale of tender forms;

(h) Centage income;

(i) Rental income from renting of buildings and hoardings;

(j) Interest on consumption deposits with power companies and

(k) Interest on fixed deposits with banks.

Notification No. 62/2018 – Notifying ‘Karnataka State Unorganised Workers Social Security Board’, Bengaluru

Applicable to AYs -2017-18, 2018-19, 2019-20, 2020-21 & 2021-22

a) Grant-in-Aid released by State Government;

b) Interest earned on Grant-in-Aid released by State Government

Notification No. 63/2018 – Notifying ‘Kerala State Electricity Regulatory Commission’, Thiruvananthapuram

Applicable to AYs -2018-19, 2019-20, 2020-21, 2021-22 & 2022-23

(a) Grants and loans received from State Government of Kerala;

(b) License fee under Electricity Act, 2003;

(c) Petition fees under Electricity Act, 2003;

(d) Interest earned from investment.

Notification No. 64/2018 – Notifying ‘Madhya Pradesh Electricity Regulatory Commission’, Bhopal

Applicable to AYs -2020-21, 2021-22, 2022-23, 2023-24 & 2024-25

(a) Amount received as petition fees;

(b) Amount received as fines and charges;

(c) Other incidental income received from sale of tender documents, processing fees, certified copying fees, sale of old newspapers, license fee, distribution of Tariff book, vehicle rent, interest on loans to staff; and

(d) Interest earned on (a) to (c) above

Notification No. 65/2018 – Notifying ‘Real Estate Regulatory Authority, Punjab’

Applicable to AYs -2018-19, 2019-20, 2020-21, 2021-22 & 2022-23

(a) Grants received from Government;

(b) Levy collected under the Real Estate (Regulation and Development) Act, 2016 and the Punjab State Real Estate (Regulation and Development) Rules, 2017;

(c) Interest earned on (a) and (b) above.

Notification No. 66/2018 – Notifying ‘Uttaranchal Board of Technical Education’

Applicable to AYs – 2018-19, 2019-20, 2020-21, 2021-22 & 2022-23

a) Grants/subsidies received from Government/ government bodies;

b) Fees, Fines and Penalties collected as per the provisions of Uttaranchal Board of Technical Education Act, 2003;

c) Receipts from sale of printed application forms and educational Material;

d) Receipts from Disposal of assets and sale of Scrap;

e) Rent received from let out of properties;

f) Royalty or License Fees for providing technical knowledge and infrastructure;

g) Interest earned on (a) to (f) above

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