CBDT notifies Income Tax Exemption to Chhattisgarh Rajya Beej Pramanikaran Sanstha [Read Notification]
CBDT notifies Income Tax – Chhattisgarh Rajya Beej Pramanikaran Sanstha – The Central Board of direct Taxes – CBDT – TAXSCAN
CBDT notifies Income Tax – Chhattisgarh Rajya Beej Pramanikaran Sanstha – The Central Board of direct Taxes – CBDT – TAXSCAN
The Central Board of direct Taxes (CBDT), vide notification no.S.O. 5044(E) issued on 24th November 2023 has notified the Income Tax exemption to the Chhattisgarh Rajya Beej Pramanikaran Sanstha under Section 10(46) of the Income Tax Act, 1961.
The income exempted from income tax are:
- Grants received from Central and State Governments.
- Money received by the way of application, Certification fees and other service charges.
- Interest earned on Term/Fixed Deposits in the banks and on (a) to (b) above.
However, this notification shall be effective subject to the conditions that Chhattisgarh Rajya Beej Pramanikaran Sanstha:
- shall not engage in any commercial activity;
- activities and the nature of the specified income shall remain unchanged throughout the financial years; and
- 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.
To Read the full text of the Order CLICK HERE
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