Exemption from specified income U/s 10(46) – ‘Chhattisgarh Rajya Beej Pramanikaran Sanstha’ notified - 100/2023 - Income Tax

MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 100/2023 New Delhi, the 24th November, 2023 S.O. 5044(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, Chhattisgarh Rajya Beej Pramanikaran Sanstha (PAN AADAC3163E), a body constituted by the State Government of Chhattisgarh, in respect of the following specified income arising to that body, as follows: (a) Grants received from Central and State Governments. (b) Money received by the way of application, Certification fees and other service charges. (c) Interest earned on Term/Fixed Deposits in the banks and on (a) to (b) above. 2. This notification shall be effective subject to the conditions that Chhattisgarh Rajya Beej Pramanikaran Sanstha (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 be deemed to have been applied for assessment years 2019-2020, 2020-2021, 2021-2022, 2022-2023 and 2023-2024 relevant for the financial years 2018-2019, 2019-2020, 2020-2021, 2021-2022 and 2022-2023, respectively. [F. No. 300196/31/2019-ITA-I]. VIKAS SINGH, Director (ITA-I) Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification.