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The Central Government notifies specified income of Chennai Metropolitan Water Supply and Sewerage Board for tax exemption under section 10 of the Income-tax Act, 1961. The Board receives the exemption for government grants, centage receipts, taxes, fees, property rent, miscellaneous interest, and bank deposit interest. The Board must not engage in any commercial activity. The activities and nature of specified income must remain unchanged. The Board files a return of income under section 139 of the Act. The notification applies retrospectively for assessment years 2020-2021 through 2023-2024.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 8th January, 2024
S.O. 90(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, ‘Chennai Metropolitan Water Supply and Sewerage Board’ (PAN: AAALM0037B), a Board constituted by the Government of Tamil Nadu, in respect of the following specified income arising to that Board, namely:
[Notification No.10/2024 /F.No. 300196/34/2019-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.
