https://www.taxtmi.com/highlights?id=77831 The Ministry of Finance (CBDT), u/s 10(46) of the Income-tax Act, 1961, has issued Notification No. 43/2024, granting exemption to the 'Tamil Nadu Water Supply and Drainage Board, Chennai' from specified income. The Board, constituted u/s the Tamil Nadu Water Supply and Drainage Board Act, 1970, is exempted from income including water charges, centage charges, project report preparation charges, and interest on bank deposits. The exemption is subject to conditions such as non-engagement in commercial activities, maintaining unchanged activities and income nature, and filing income tax returns as per u/s 139(4C). The notification is effective for assessment years 2024-2029, relevant to financial years 2023-2028. en-us Sat, 25 May 2024 13:05:58 +0530 Sat, 25 May 2024 13:05:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77831 The Ministry of Finance (CBDT), u/s 10(46) of the Income-tax Act, 1961, has issued Notification No. 43/2024, granting exemption to the 'Tamil Nadu Water Supply and Drainage Board, Chennai' from specified income. The Board, constituted u/s the Tamil Nadu Water Supply and Drainage Board Act, 1970, is exempted from income including water charges, centage charges, project report preparation charges, and interest on bank deposits. The exemption is subject to conditions such as non-engagement in commercial activities, maintaining unchanged activities and income nature, and filing income tax returns as per u/s 139(4C). The notification is effective for assessment years 2024-2029, relevant to financial years 2023-2028. Highlights Income Tax Sat, 25 May 2024 13:05:58 +0530 https://www.taxtmi.com/highlights?id=77831