CBDT notifies State Pollution Control Board Odisha for Income Tax Exemption under Section 10(46)

The Central Board of Direct Taxes(CBDT) has notified State Pollution Control Board Odisha for Income Tax Exemption under clause 46 of section 10 via issuing notification.

The Notification Stated as, “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, ‘State Pollution Control Board Odisha’ (PAN AAALS2490J), a Board constituted by the State Government of Odisha, in respect of the specified income arising to that Board.”

The following specified income arising to that board, namely:-

(a) Regulatory charges under different Environmental Acts & Rules thereunder;

(b) Penalties & Levies collected under governing statutes;

(c) Grant-in-aid received from Central & State Governments;

(d) Grant in Aid received on behalf of Central & State Governments in the capacity of nodal agency;

(e) Share of contributions received for carrying out environmental studies & research;

(f) Miscellaneous income, like sale of scrap, profit on sale of assets, RTI application fees, forfeiture of Bank Guarantee, tender fees, examination fees, analysis charges and empanelment of consultant fees etc. and

(g) Interest earned on (a) to (f) above.

This notification shall be effective subject to the conditions that State Pollution Control Board Odisha,-

(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 years 2021-2022 to 2023-2024 relevant for the financial years 2020-2021 to 2022-2023 respectively.

For Official Notification Download PDF Given Below: