CBDT Allows Income Tax Exemption To State Pollution Control Board Odisha

The Central Board of Direct Taxes (CBDT) has notified income tax exemption under clause 46 of Section 10 of the Income-tax Act, 1961, to the State Pollution Control Board, Odisha.

The income generated in respect of Regulatory charges under different Environmental Acts & Rules, penalties & Levies collected under governing statutes, grant-in-aid received from Central & State Governments; grant in Aid received on behalf of Central & State Governments in the capacity of nodal agencies, Share of contributions received for carrying out environmental studies & research.

The board shall also not be liable to pay tax on Miscellaneous income, like the sale of scrap, profit on the sale of assets, RTI application fees, forfeiture of Bank Guarantee, tender fees, examination fees, analysis charges, empanelment of consultant fees, etc.

The notification shall be effective subject to the various conditions.

The State Pollution Control Board of Odisha shall not engage in any commercial activity; the nature of the specified income shall remain unchanged throughout the financial years.

The Board shall file a return of income in accordance with the provisions 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.

Notification No. 60 /2023

Date: 10/08/2023

Click Here To Read The Notification