CBDT notifies National Farmers Welfare Program Implementation Society for Exemption u/s 10(46) of IT Act:

CBDT notifies National Farmers Welfare Program Implementation Society for Exemption u/s 10(46) of IT Act The Central Board of Direct Taxes(CBDT) has notified the National Farmers Welfare Program Implementation Society for Exemption u/s 10(46) of IT Act via issuing Notification. The Notification stated, "In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘National Farmers Welfare Program Implementation Society’, (PAN: AAAGN0886J), a society established by Central Government, in respect of the specified income arising to that Society." The following specified income arising to that Society:- (a) Government Grant (b) Miscellaneous receipts from RTI, Tender Fee, Fines and penalties and sale of obsolete items; and (c) Interest on deposits. This notification shall be effective subject to the conditions that ‘National Farmers Welfare Program Implementation Society’,- (a) shall not engage in any commercial activity; (b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and (c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961. This notification shall be deemed to have been applied for Assessment Year 2022-2023 relevant to financial year 2021-2022 and shall apply with respect to Assessment Years 2023-2024 to 2026-2027 relevant to the financial years 2022-2023 to 2025-2026 respectively. For Official Notification Download PDF Given Below: