The Central Board of Direct Taxes (CBDT) has notified the income tax exemption to the Telangana State Pollution Control Board under section 10(46) of the Income Tax Act, 1961.
The notification issued on Tuesday stated that the exemption shall be extended to following specified income arising to that Board. Namely, (a)consent fee received under the Water (Prevention and Control of Pollution) Act, 1974 (6 of 1974) and Air (Prevention and Control of Pollution) Act, 1981 (14 of 1981); (b) analysis fees or air ambient quality survey fees or noise level survey fees; (c) reimbursement of the expense received from Central Pollution Control Board towards National Water Quality Monitoring Programme and National Air Quality Monitoring Programme like schemes; (d) authorisation fees; (e) cess reimbursement and Cess appeal fees; (f) grants from State or Central Governments; (g) fees received under the Right to Information Act, 2005 (22 of 2005); (h) interest on loans and advances given to the staff; (i) miscellaneous income like tenders fees etc.; (j) penalties for non-compliance and Invoking of Bank Guarantees; and (k) interest earned on (a) to (j) above.
Under section 10(46), any specified income arising to any notified body/authority/Board/ Trust/Commission (or a class thereof) which has been established or constituted by or under a Central, State or Provincial Act, or has been constituted by the Government or a State Government with the object of regulating or administering any activity for the benefit of the general public and is not engaged in any commercial activity and is notified by the Central Government in the Official Gazette for the purposes of this clause is exempt from tax.
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