Section 10(46) of the Income-tax Act, 1961 – Central Government notifies Karnataka Urban Water Supply and Drainage Board a Board constituted under the Karnataka Urban Water Supply and Drainage Board Act, 1973 (Karnataka Act No. 25 of 1974), in respect of the following specified income arising to that Board - 15/2016 - Income Tax Act, 1961
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Tax exemption under Section 10(46) covers specified Board income subject to non-commerciality and filing conditions. The Karnataka Urban Water Supply and Drainage Board is notified as eligible for exemption under Section 10(46) for specified incomes: establishment and supervision charges prescribed by the Karnataka Public Works Department Accounts Code; water charges from local bodies and consumers; interest on investments and fixed deposits; rent from letting 'JAL BHAWAN'; and forfeited earnest money. The exemption is conditional on the Board not engaging in commercial activity, maintaining unchanged activities and income character, and filing income-tax returns as required by clause (g) of sub-section (4C) of section 139.
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 under Section 10(46) covers specified Board income subject to non-commerciality and filing conditions.
The Karnataka Urban Water Supply and Drainage Board is notified as eligible for exemption under Section 10(46) for specified incomes: establishment and supervision charges prescribed by the Karnataka Public Works Department Accounts Code; water charges from local bodies and consumers; interest on investments and fixed deposits; rent from letting 'JAL BHAWAN'; and forfeited earnest money. The exemption is conditional on the Board not engaging in commercial activity, maintaining unchanged activities and income character, and filing income-tax returns as required by clause (g) of sub-section (4C) of section 139.
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