U/s 10(46) of IT Act 1961 - Central Government notifies ‘Gujarat State Aids Control Society’ in respect of the specified income arising to that Society. - 127/2021 - Income Tax Act, 1961
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Tax exemption notification for a state AIDS society shields grant and interest income subject to specified compliance conditions. Notification under section 10(46) exempts specified income of Gujarat State AIDS Control Society limited to grants from NACO and interest on those grants. The exemption is subject to conditions: no commercial activity by the Society; activities and the specified income must remain unchanged across relevant financial years; and the Society must file income-tax returns as required by the cited provision. The notification is given retrospective effect for the stated assessment period.
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 notification for a state AIDS society shields grant and interest income subject to specified compliance conditions.
Notification under section 10(46) exempts specified income of Gujarat State AIDS Control Society limited to grants from NACO and interest on those grants. The exemption is subject to conditions: no commercial activity by the Society; activities and the specified income must remain unchanged across relevant financial years; and the Society must file income-tax returns as required by the cited provision. The notification is given retrospective effect for the stated assessment period.
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