notification no. 98/2024 f.no. 300196/9/2020 ita i / so 3202 e · 07 Aug 2024

हह

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 7th August, 2024
(INCOME-TAX)

S.O. 3202(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, ‘Karnataka State Natural Disaster Monitoring Centre’ (PAN:AAATD2434P), a body constituted by the State Government of Karnataka, in respect of the following specified income arising to that body, namely:-

• (a) Grant –in-aid received from State Govt. and Govt. of India,
• (b) Income received from data sharing activities, and
• (c) Interest on bank deposits

2. This notification shall be effective subject to the conditions that Karnataka State Natural Disaster Monitoring Centre -

• (a) shall not engage in any commercial activity;
• (b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and
• (c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.

3. This notification shall be deemed to have been applied for the assessment years 2021-2022, 2022-2023 and 2023-2024 relevant for the financial years 2020-2021, 2021-2022 and 2022-2023 and shall be applicable for the assessment years 2024-2025 and 2025-2026 relevant for the financial years 2023-2024 and 2024-2025 respectively.

[Notification No. 98/2024/F.No.300196/9/2020-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.

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