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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 31st May, 2022 S.O. 2501(E).- 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 Biodiversity Authority (PAN AAALN0331K), an Authority established under the Biological Diversity Act, 2002 (18 of 2003), in respect of the following specified income a
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1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
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FAQ :
The main purpose is to notify the National Biodiversity Authority for exemption from income tax under clause (46) of section 10 of the Income-tax Act, 1961.
The exemption covers amounts received as grant-in-aid from the Government of India, benefit sharing fees and royalties, application fees, and interest earned on these specified incomes.
The NBA must not engage in any commercial activity, its activities and income nature must remain unchanged, and it must file its income tax return as per the Income-tax Act provisions.
This notification is deemed effective for the financial year 2021-2022 and is applicable for the financial years 2022-2023, 2023-2024, 2024-2025, and 2025-2026.
The National Biodiversity Authority is located in Chennai.
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