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The Central Government notifies the Haryana Water Resources Authority for income tax exemption under section 10 clause 46 of the Income-tax Act. The exemption applies to specific income from state grants, user fees, and related interest. The Authority must not engage in commercial activity and must keep its activities unchanged. The Authority must file a return of income under section 139 sub-section 4C clause g. The notification applies retrospectively for assessment years 2022-2023 and 2023-2024.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 16th August, 2023
S.O. 3667(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, ‘Haryana Water Resources (Conservation, Regulation and Management) Authority’ (PAN AADAH3590A), an Authority established by the State Government of Haryana, in respect of the following specified income arising to that Authority, namely:
[Notification No. 63/2023/F.No.300196/8/2022-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.
