CBDT Allows Income Tax Exemption To Unique Identification Authority Of India
The Central Board of Direct Taxes (CBDT) has granted income tax exemption to the Unique Identification Authority Of India.‘Unique Identification Authority of India’ is a statutory Authority established under the provisions of the AADHAAR Act, 2016 by the Government of India.The CBDT has notified the tax exemption in respect of grants/subsidies received from the Central...
The Central Board of Direct Taxes (CBDT) has granted income tax exemption to the Unique Identification Authority Of India.
‘Unique Identification Authority of India’ is a statutory Authority established under the provisions of the AADHAAR Act, 2016 by the Government of India.
The CBDT has notified the tax exemption in respect of grants/subsidies received from the Central Government, fees/subscriptions including RTI Fee, Tender Fee, Sale of Scrap, PVC card, etc.; Authentication, Enrolment and Updation service charges received; Term/Fixed Deposits; and Interest earned.
The notification shall be effective subject to various conditions.
The Unique Identification Authority of India shall not engage in any commercial activity. The activities and the nature of the specified income shall remain unchanged throughout the financial years; and shall file a return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.
The notification shall be deemed to have been applied for assessment years 2019-2020 to 2023-2024 relevant for the financial years 2018-2019 to 2022-2023 respectively.
Notification No. 68/2023
Dated: 23/08/2023
Click Here To Read The Notification