U/s 10(46) of IT Act 1961 - Central Government notifies ‘Bangalore Water Supply and Sewerage Board’ a Board constituted by the Government of Karnataka in respect of the specified income arising to that Board - 56/2019 - Income Tax

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.