SECTION 10(46) OF THE INCOME-TAX ACT, 1961 – EXEMPTIONS – STATUTORY/AUTHORITY/BOARD/COMMISSION – NOTIFIED BODY OR AUTHORITY – CHANDIGARH STATE AIDS CONTROL SOCIETY

NOTIFICATION NO. 77/2013 [F.NO.196/59/2012-ITA.I]/SO 2913(E), DATED 25-9-2013

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, the Chandigarh State AIDS Control Society a body established by the Chandigarh Administration in respect of the following specified income arising to the said Society, namely:-

(a )
amount received in the form of grants-in-aid from Central Government;
(b )
interest earned on grants-in-aid.

2. This notification shall be deemed to have been applied for the financial years 2011-12 and 2012-13 and shall respectively be applicable for the financial years 2013-14, 2014-15 and 2015-16.

3. The notification shall be effective subject to the following conditions, namely:-

(a )
the Chandigarh State AIDS Control Society does not engage in any commercial activity;
(b )
the activities and the nature of the specified income of the Chandigarh State AIDS Control Society remain unchanged throughout the financial year; and
(c )
the Chandigarh State AIDS Control Society files return of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the Income-tax Act, 1961.

4. The grants received by the said Society shall be received and applied in accordance with the prevailing rules and regulations

More Under Income Tax

Posted Under

Category : Income Tax (27246)
Type : Notifications (15783) Notifications/Circulars (31738)

Leave a Reply

Your email address will not be published. Required fields are marked *