Vide Notification No. 125/2021-Income Tax | Dated: 29th October, 2021 CBDT notifies Tax Exemption to ‘Chandigarh Pollution Control Committee’ in respect of the specified income under section 10(46) of Income Tax Act, 1961.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi, the 29th October, 2021
Notification No. 125/2021-Income Tax
S.O. 4523(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, ‘Chandigarh Pollution Control Committee’ (PAN AAATC6094L), a body constituted under Section 4, clause (4) of the Water (Prevention and Control of Pollution) Act, 1974 (Act No.6 of 1974) and Section 6 of the Air (Prevention and Control of Pollution) Act, 1981 (Act No.14 of 1981), in respect of the following specified income arising to that body, namely:-
(a) Grant-in-aid from CPCB New Delhi;
(b) Grant-in-aid received from the Union Territory of Chandigarh Administration;
(c) Consent fees;
(d) Environment Compensation and penalties;
(e) Bio medical waste authorization fees;
(f) Bank guarantee forfeiture;
(g) Reimbursement of NAMP Project Expenses (CPCB);
(h) Stack, Analysis, Water & air testing fees;
(i) Water cess receipts;
(j) Interest income earned on (a) to (i) above.
2. This notification shall be effective subject to the conditions that Chandigarh Pollution Control Committee,-
(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 period from 01-06-2020 to 31-03-2021 in the financial year 2020-2021 and shall apply for the financial years 2021-2022, 2022-2023, 20232024 and 2024-2025.
[Notification No. 125 /2021/F. No. 300196/35/2018-ITA-I]
SOURABH JAIN, Under Secy.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
