CBDT vide Notification No. 88/2022 dated 02.08.2022 in S.O. 3616(E) notified ‘Telangana State Pollution Control Board’, having PAN AAAGT0080Q, a body constituted by the State Government of Telangana under the Water (Prevention and Control of Pollution) Act, 1974 (6 of 1974) for income-tax exemption under section 10(46) of the Income-tax Act, 1961.
As per the notification, the following incomes of the Board shall be exempt from income tax:
(a) Consent fee;
(b) analysis fees or air ambient quality survey fees or noise level survey fees;
(c) reimbursement of the expense received from Central Pollution Control Board;
(d) authorisation fees;
(e) cess reimbursement and Cess appeal fees;
(f) grants from State or Central Governments;
(g) fees received under the RTI Act;
(h) interest on loans and advances given to the staff;
(i) miscellaneous income like tenders fees etc.;
(j) penalties for non-compliance and Invoking of Bank Guarantees; and
(k) interest earned on above
The above-mentioned income shall be exempt from income tax if the commission shall not engage in any commercial activity and that activities and the nature of the specified income shall remain unchanged throughout the financial years.
In order to claim exemption, the commission is required to furnish a return of income in accordance with the provision of section 139(4C)(g).
The exemption shall be available from financial years 2016-2017, 2017- 2018, 2018-2019, 2019-2020 and 2020-2021 subject to the outcome of the Special Leave Petition filed by Central Board of Direct Taxes vide Diary No.19832/2022 in the Hon’ble Supreme Court of India against the Common order dated 26.07.2021 in W.P.4834/2020 and 15629/2020 by the High Court for the State of Telangana.
Read the full text of Notification No. 88/2022 dated 02.08.2022 on income-tax exemption to Telangana State Pollution Control Board
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 2nd August, 2022
S.O. 3616(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, the Telangana State Pollution Control Board (PAN AAAGT0080Q), a Board constituted by the State Government of Telangana under the Water (Prevention and Control of Pollution) Act, 1974 (6 of 1974), in respect of the following specified income arising to that Board, namely:-
(a) consent fee received under the Water (Prevention and Control of Pollution) Act, 1974 (6 of 1974) and Air (Prevention and Control of Pollution) Act, 1981 (14 of 1981);
(b) analysis fees or air ambient quality survey fees or noise level survey fees;
(c) reimbursement of the expense received from Central Pollution Control Board towards National Water Quality Monitoring Programme and National Air Quality Monitoring Programme like schemes;
(d) authorisation fees;
(e) cess reimbursement and Cess appeal fees;
(f) grants from State or Central Governments;
(g) fees received under the Right to Information Act, 2005 (22 of 2005);
(h) interest on loans and advances given to the staff;
(i) miscellaneous income like tenders fees etc.;
(j) penalties for non-compliance and Invoking of Bank Guarantees; and
(k) interest earned on (a) to (j) above.
2. This notification shall be effective subject to the conditions that the Telangana State Pollution Control Board,-
(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 the financial years 2016-2017, 2017- 2018, 2018-2019, 2019-2020 and 2020-2021 subject to the outcome of the Special Leave Petition filed by Central Board of Direct Taxes vide Diary No.19832/2022 in the Hon’ble Supreme Court of India against the Common order dated 26.07.2021 in W.P.4834/2020 and 15629/2020 by the High Court for the State of Telangana.
[Notification No. 88/2022/F. No. 300196/19/2017-ITA-I]
SOURABH JAIN, Under Secy.
Explanatory Memorandum
This notification is issued in compliance to the Hon’ble High Court for the State of Telangana’s Common Order dated 26.07.2021 in W.P. No.4834/2020 and 15629/2020 in case of Telangana State Pollution Control Board and Andhra Pradesh Pollution Control Board vs. CBDT & ors. Special Leave Petition has been filed by Diary No.19832/2022 in the Hon’ble Supreme Court of India against the above mentioned Order dated 26.07.2021 of the Hon’ble High Court of Telangana. It is certified that no person is being affected adversely by giving retrospective effect to this notification.
){kind=link}
0 Comments