CBDT exempts income of RERA Himanchal Pradesh & National Council of Science Museum Kolkata u/s 10(46)
In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961, CBDT has exempted specified income of Real Estate Regulatory Authority Himanchal Pradesh (PAN AAAGR1176F). (Notification No. 86 /2021)
Also, ‘National Council of Science Museums’, Kolkata (PAN AAAAN2541C), an autonomous body established under the Ministry of Culture has also been notified in respect of the specified incomes. Notification No. 85 /2021
The exemption is subject to the following conditions:
(i) they shall not engage in any commercial activity;
(ii) activities and the nature of the specified income shall remain unchanged throughout the financial years; and
(iii) they 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.
(iv) They shall file the CA Audit report along with the Return along with a certificate from the chartered accountant that the above conditions are satisfied.
The exemption has been granted with respect to the financial years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and 2025-2026.
The Jammu & Kashmir Bank Ltd. invites on-line applications for empanelment as Stock Auditors for 3 Financial Years i.e. from…
Broken period interest paid on purchase of securities was revenue expenditure since the securities constituted stock-in-trade In a recent judgment,…
ITAT quashed reassessment on the basis of borrowed belief of Anti-Corruption Bureau without applying mind In a recent judgment, ITAT…
In considering disallowance u/s 40A(2) for payments to specified persons, genuineness of expenditure is not a relevant issue. In a…
Expression “Yes I am satisfied” in approval u/s 151 not such a vital defect on the basis of which, re-opening…
Section 143(1) Intimation is only an intimation and it cannot be treated as an order for the purpose of Section…