CBDT notifies Income Tax Exemption to 3 Organisations u/s 10(46) [Read Notification]
It is certified that no person is being adversely affected by giving retrospective effect to this notification
CBDT – Income tax – Income tax exemption – Income Tax Exemption to 3 Organisations – Section 10(46) Income tax act – taxscan
CBDT – Income tax – Income tax exemption – Income Tax Exemption to 3 Organisations – Section 10(46) Income tax act – taxscan
The CBDT ( Central Board of Direct Taxes ) has notified the Income Tax exemptions to 3 organisations under Section 10(46) of the Income tax act, 1961. It has exempted Punjab Skill Development Mission Society, Chandigarh, Himachal Pradesh State Load Despatch Centre, Shimla, and Society for Applied Microwave Electronics Engineering & Research ( SAMEER ), Mumbai from paying taxes.
Punjab Skill Development Mission Society, Chandigarh
The board has exempted the following income from the society:
- Grants and contributions received from Central Government, State Government of Punjab, and other Government institutions.
- CSR funds received from companies/firms.
- Levy of service charges or administrative charges for the schemes/projects.
- Interest on bank deposits.
This notification shall be effective subject to the conditions that Punjab Skill Development Mission Society, Chandigarh –
(a) shall not engage in any commercial activity;
(b) its activities and the nature of the specified income shall remain unchanged throughout the financial year(s); and
(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.
This notification shall be deemed to be applicable for Assessment Years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and 2025-2026 relevant for the financial years 2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025.
Himachal Pradesh State Load Despatch Centre, Shimla
- Income from levy of fees/charges as per Electricity Act, 2003 and as fixed by Himachal Pradesh
- Electricity Regulatory Commission, and Interest on bank deposits.
This notification shall be effective subject to the conditions that Himachal Pradesh State Load Despatch Centre -
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and
(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.
This notification shall be deemed to be applicable for Assessment years 2021-2022, 2022-2023 and 2023- 2024 relevant to Financial years 2020-2021, 2021-2022 and 2022-2023.
Society for Applied Microwave Electronics Engineering & Research (SAMEER), Mumbai
- Grants received from Ministry of Electronics and Information Technology
- Fees received from test measurement and consultancy services.
- Design and development charges for systems/subsystems in RF/Microwave and allied areas.
- Revenue from Royalty and transfer of technology.
- Miscellaneous income as per Memorandum of Association of the SAMEER.
- Interest on bank deposits.
This notification shall be effective subject to the conditions that ‘Society for Applied Microwave Electronics Engineering & Research (SAMEER), Mumbai’ –
(a) shall not engage in any commercial activity;
(b) its activities and the nature of the specified income shall remain unchanged throughout the financial year(s); and
(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.
This notification shall be deemed to be applicable for Assessment Years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and 2025-2026 relevant for the financial years 2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025.
To Read the full text of the Notification CLICK HERE
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