Government exempts specified income of legal services committee under section 10(46), subject to conditions and return filing rules

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Full Text of the Document

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....The Central Government notified that specified income of a High Court legal services committee constituted under the Legal Services Authorities Act is exempt under section 10(46) of the Income-tax Act: (a) court-imposed costs, (b) grants from central or state governments and government agencies for statutory purposes, and (c) interest on bank deposits. Exemption is subject to conditions: no commercial activity, unchanged activities and income character, and filing returns under section 139(4C)(g). The notification operates retrospectively for assessment years 2023-24 to 2025-26 and applies to 2026-27 and 2027-28; no adverse effects are certified.....