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

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 https://www.taxtmi.com/notifications?id=118914 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. en-us Wed, 16 Mar 2016 00:00:00 +0530 Tue, 22 Mar 2016 10:30:00 +0530 TaxTMI RSS Generator 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 https://www.taxtmi.com/notifications?id=118914 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. Notifications Income Tax Wed, 16 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/notifications?id=118914