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U/s 10(46) of the Income-tax Act, 1961 Central Government notifies ‘Karnataka State Unorganised Workers Social Security Board’, Bengaluru, a board constituted by the Government of Karnataka, in respect of the specified income arising to that board - 62/2018 - Income Tax Act, 1961
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Tax exemption under section 10(46): Karnataka board's grant and interest income exempted subject to compliance conditions. Notification under section 10(46) notifies Karnataka State Unorganised Workers Social Security Board, Bengaluru, to exclude specified income consisting of State Government Grant-in-Aid and interest earned thereon, subject to conditions that the board shall not engage in commercial activity, maintain unchanged activities and nature of specified income across financial years, and file income tax returns under clause (g) of sub-section (4C) of section 139; the notification applies retrospectively to assessment years 2017-18 and 2018-19 and for subsequent assessment years through 2021-22.
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): Karnataka board's grant and interest income exempted subject to compliance conditions.
Notification under section 10(46) notifies Karnataka State Unorganised Workers Social Security Board, Bengaluru, to exclude specified income consisting of State Government Grant-in-Aid and interest earned thereon, subject to conditions that the board shall not engage in commercial activity, maintain unchanged activities and nature of specified income across financial years, and file income tax returns under clause (g) of sub-section (4C) of section 139; the notification applies retrospectively to assessment years 2017-18 and 2018-19 and for subsequent assessment years through 2021-22.
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