Home Audit & Assurance CBDT notifies Chennai Metropolitan Water Supply and Sewerage Board for Exemption u/s 10(46) of IT Act [Read Notification]

CBDT notifies Chennai Metropolitan Water Supply and Sewerage Board for Exemption u/s 10(46) of IT Act [Read Notification]

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CBDT notifies Chennai Metropolitan Water Supply and Sewerage Board for Exemption u/s 10(46) of IT Act [Read Notification]

CBDT notifies Chennai Metropolitan Water Provide and Sewerage Board for Exemption u/s 10(46) of IT Act [Read Notification]

The Central Board of Direct Taxes (CBDT) has notified Chennai Metropolitan Water Provide and Sewerage Board for Earnings Tax Exemption below part 10(46) of the Earnings Tax Act, 1961 through issuing a Notification.

The Notification Learn as follows:

In train of the powers conferred by clause (46) of part 10 of the Earnings-tax Act, 1961 (43 of 1961), the Central Authorities hereby notifies for the needs of the mentioned clause, ‘Chennai Metropolitan Water Provide and Sewerage Board’ (PAN: AAALM0037B), a Board constituted by the Authorities of Tamil Nadu, in respect of the desired earnings arising to that Board.

The next specified earnings arising to that Board, specifically:

(a) Grant and subsidies acquired from the Authorities;

(b) Centage receipts acquired from Municipalities, Native authorities and Authorities;

(c) Receipts of taxes, expenses, charges, fines, forfeitures, penalties, and many others. by no matter identify referred to as;

(d) Earnings from the sale of farm produce, hire from properties;

(e) Different miscellaneous earnings similar to curiosity on deposits with TNEB, GPF/CPS investments, employees welfare investments, Debt Reserve Fund, Fastened Asset renewal fund, advance to employees and contractors, sale of property/ scrap; and

(f) Curiosity earned on financial institution deposits.

This notification shall be efficient topic to the situations that Chennai Metropolitan Water Provide and Sewerage Board:-

(a) shall not have interaction in any business exercise;

(b) actions and the character of the desired earnings shall stay unchanged all through the monetary years; and

(c) shall file return of earnings in accordance with the availability of clause (g) of sub-section (4C) of part 139 of the Earnings-tax Act, 1961.

This notification shall be deemed to have been utilized for evaluation years 2020-2021, 2021-2022, 2022-2023 and 2023-2024 related for the monetary years 2019-2020, 2020-2021, 2021-2022 and 2022-23.

For Official Notification Obtain PDF Given Beneath:

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