Income of Bangalore Water Supply and Sewerage Board exempted u/s 10(46) for 5 Assessment Years

Income of Bangalore Water Supply and Sewerage Board exempted u/s 10(46) for 5 Assessment Years

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)

Notification No. 56 /2019

New Delhi, the 2nd August, 2019

S.O. 2782(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, ‘Bangalore Water Supply and Sewerage Board’, Bengaluru (PAN AAALB0015G) a Board constituted by the Government of Karnataka, in respect of the following specified income arising to that Board, namely:-

(a) Water Charges;

(b) Sanitary and Borewell Charges;
(c) Special Sanitary Charges;

(d) Meter Charge;

(e) Bulk Water Charges;

(f) Rent; and

(g) Interest on surplus amount earned out of the above.

2. This notification shall be effective subject to the conditions that Bangalore Water Supply and Sewerage 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 2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025.

[F.No. 300196/67/2018-ITA-I]

RAJARAJESWARI R., Under Secy.

Download CBDT Notification Click Here >>

• FDCM invites application for empanelment of practising CAs/ Chartered Accountant Firms
• PGRI invites application for CAs for empanelment for Circulation Verification work
• CBDT notifies revised Form for registration as valuer & authorised income tax practitioner
• Curtailing time to file reply to notice u/s 148A(b) from 30 days prejudiced assessee’s right – HC
• For registration u/s 12AB, applicability of proviso to section 2(15) can’t be adjudicated

addition u/s 68 addition u/s 69A ca misconduct cash deposit in bank cbdt circular CBDT Instruction cbdt notification cbdt order cbdt press release cgst circular cgst notification cit revision 263 concealment penalty condonation of delay covid-19 custom circular demonetisation due date extension e-way bill faq GST circular GST Council Meeting gst faq gstn advisory GSTR-3B GST rates IBBI ibc icai announcement income tax penalty itat ITAT Delhi mca circular MCA notification penalty 271(1)(c) penalty u/s 271(1)(c) Press Release reasons recorded reopening 148 Reopening us 147 Search & Seizure sebi circular unexplained cash credits validity of notice u/s 148 Withdrawal of 2000 500 Bank Notes