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The Central Government notifies specified income of the Godavari River Management Board, Hyderabad, under clause (46) of section 10 of the Income-tax Act, 1961. The specified income includes grants or subsidies from the Central Government and the State Governments of Andhra Pradesh and Telangana, and interest from bank deposits including savings accounts. The Board must not engage in any commercial activity, must keep its activities and the nature of the specified income unchanged throughout the financial years, and must file a return of income under section 139 of the Income-tax Act, 1961. This notification applies for the assessment years 2020-21 to 2023-2024.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 5th December, 2023
S.O. 5169(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, ‘Godavari River Management Board, Hyderabad’ (PAN AAAGG1473Q), a Board constituted by Central Government in pursuance of section 85 of the Andhra Pradesh Re-Organization Act, 2014, in respect of the following specified income arising to the said Authority, as follows:
[Notification No. 102/2023 F. No. 300196/45/2019-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.
