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The Central Government notifies the State Pollution Control Board Odisha for income tax exemption under section 10 clause 46 of the Income-tax Act 1961. The exemption applies to specific income streams including regulatory charges, penalties, levies, government grants, contributions for environmental studies, miscellaneous income, and related interest earnings. The Board must not engage in commercial activities, must keep its activities and income nature unchanged, and must file returns of income under section 139 sub-section 4C clause g. The notification applies retrospectively for assessment years 2021-2022 to 2023-2024.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 10th August, 2023
S.O. 3579(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, ‘State Pollution Control Board Odisha’ (PAN AAALS2490J), a Board constituted by the State Government of Odisha, in respect of the following specified income arising to that Board, namely:
[Notification No. 60 /2023 F.No.300196/6/2020-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.
