Section 10(46) of the Income-tax Act, 1961 – Central Government notifies to “Karnataka Livestock Development Agency” constituted by Government of Karnataka in respect of certain specified income arising to the said body - 07/2015 - Income Tax Act, 1961
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Tax exemption for Karnataka Livestock Development Agency for grant income and interest, subject to non-commercial and filing conditions. Notification grants tax exemption to the Karnataka Livestock Development Agency for amounts received as grants-in-aid from the Central Government and interest on those grants, subject to conditions that the body does not engage in commercial activity, its activities and the nature of the specified income remain unchanged, and it files its return of income as prescribed; the notification applies for the financial years 2012-13 to 2016-17.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption for Karnataka Livestock Development Agency for grant income and interest, subject to non-commercial and filing conditions.
Notification grants tax exemption to the Karnataka Livestock Development Agency for amounts received as grants-in-aid from the Central Government and interest on those grants, subject to conditions that the body does not engage in commercial activity, its activities and the nature of the specified income remain unchanged, and it files its return of income as prescribed; the notification applies for the financial years 2012-13 to 2016-17.
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