7. Exemption of income of Agricultural Produce Marketing Committee or Board
7.1 Clause (26AAB) has been inserted in section 10 to provide for tax exemption with respect to the income of an Agricultural Produce Marketing Committee or Board which has been constituted under any law for the purpose of regulating the marketing of agricultural produce.
7.2 Applicability: This amendment has been made applicable with effect from 1st April, 2009 and shall accordingly apply for assessment year 2009-10 and subsequent assessment years.
8. Exemption of income of Coir Board
8.1 Sub-section (29A) of Section 10 provides that any income of certain specified commodity boards and export development authorities shall be exempt from income tax. As a measure to promote socio-economic development, a similar exemption has been provided in respect of any income accruing or arising to the Coir Board established under the Coir Industry Act, 1953 by inserting sub-clause (h) in clause (29A) of section 10.
8.2 Applicability: This amendment has been made applicable with retrospective effect from 1st April, 2002 and shall accordingly apply for assessment year 2002-03 and subsequent assessment years.