Central Silk Board Bengaluru income exempted by CBDT for 5 Years from AYs 2019-2020 to 2023-2024.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 45/2019
New Delhi, the 20th June, 2019
S.O.2005(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Central Silk Board’, Bengaluru, PAN: AAALC0093M a Board constituted by the Central Government, in respect of the following specified income arising to that Board, namely:—
(a) Grants/Funds received from the Centre/State/NGO or any other Statutory body by Central Silk Board;
(b) Compensation received on account of sale, disposal, auction or acquisition of movable and immovable properties of Central Silk Board;
(c) Royalty or any other income received for the technologies patented and intellectual property rights owned by Central Silk Board;
(d) Penalties and Levies collected under Government Statutes;
(e) Fees/charges/ receipt received on account of services rendered by Central Silk Board as per the provisions of the Central Silk Board Act, 1948 (LXI of 1948) as amended by the Central Silk Board (Amendment) Act, 2006 (42 of 2006) and the Central Silk Board Rules, 1955 as amended by the Central Silk Board (Amendment) Rules, 2015; and
(f) Interest earned on (a) to (e) above.
2. This notification shall be effective subject to the conditions that Central Silk Board, Bengaluru,-
(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.
3. This notification shall apply with respect to the assessment year 2019-2020, 2020-2021, 2021-2022, 2022-2023 and 2023-2024.
[ F.No.300196/3/2019-ITA-I]
RAJARAJESWARI R., Under Secy.
Before staying CESTAT order the High Court should have framed the substantial questions of law and thereafter could have passed…
Chartered Accountant issuing Form 15CB not required check genuineness or otherwise of documents submitted by his clients – Supreme Court…
Ongoing investigation qua absconding person, cannot be a ground to deny bail to person against whom the investigations have been…
Accommodation entry operators also routinely obtain PAN, file ITRs, and maintain bank accounts, to give a facade of legitimacy to…
ICAI sets up two new branches : at Morbi and Bhiwandi The Institute of Chartered Accountants of India (ICAI) has…
Central Government notifies amended Protocol between India and Belgium for Avoidance of Double Taxation and the Prevention of Fiscal Evasion…