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The Central Government notifies specified income of the Tamil Nadu Water Supply and Drainage Board under clause (46) of section 10 of the Income-tax Act, 1961. The board must not engage in any commercial activity. The activities and the nature of the specified income must remain unchanged throughout the financial years. The board must file a return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961. This notification applies with respect to the Assessment Years 2019-2020, 2020-2021, 2021-2022, 2022-2023, and 2023-2024.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 14th September, 2018
S.O. 4866(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’, a board constituted under the Tamil Nadu Water Supply and Drainage Board Act, 1970 (Tamil Nadu Act 4 of 1971), in respect of the following specified income arising to that board, namely:-
[Notification No. 52 /2018/F. No. 300196/4/2018-ITA-I] VINAY SHEEL GAUTAM, Under Secy.
