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The Central Government notifies the Tamil Nadu Water Supply and Drainage Board under section 10 clause 46 of the Income-tax Act, 1961 for specified income. The specified income includes water charges, centage charges, investigation and project report preparation charges, and interest earned on bank deposits. The Board must not engage in any commercial activity. The activities and nature of the specified income must remain unchanged throughout the financial year. The Board must file a return of income under section 139 sub-section 4C clause g of the Income-tax Act, 1961. This notification applies for assessment years 2024-2025 through 2028-2029.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 22nd May, 2024
S.O. 2076(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, ‘Tamil Nadu Water Supply and Drainage Board, Chennai’ (PAN: AAALT0834F), a Board constituted under the Tamil Nadu Water Supply and Drainage Board Act, 1970 (Tamil Nadu Act of 1971), in respect of the following specified income arising to the said Board, namely:-
[Notification No. 43/2024, F. No.300196/32/2024-ITA-I] CASTRO JAYAPRAKASH T., Under Secy.
