Laws and sections by number or title, due dates, pages, and updates.
The Central Government notifies the Kozhikode District Sports Council for clause (46) of section 10 of the Income-tax Act, 1961. The body receives tax exemption for specified income from government grants, state sports council grants, stadium and shop room rent, and interest. The body must not engage in any commercial activity. The activities and the nature of the specified income must remain unchanged throughout the financial years. The body must file a return of income under section 139 of the Income-tax Act, 1961. The notification applies for the specified assessment years.
What you must do
Key dates
Law this touches
Who is affected
Ask about this notification
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 22nd October, 2018
S.O. 5365(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, ‘Kozhikode District Sports Council, Kozhikode’, a body constituted under Section 9 of the Kerala Sports Act, 2000 (Act 2 of 2001), in respect of the following specified income arising to that body, namely:—
[Notification No. 68 /2018/ F.No. 300196/01/2016-ITA-I] VINAY SHEEL GAUTAM, Under Secy.
Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective effect to this notification.
