MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 2nd August, 2019
S.O. 2782(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, ‘Bangalore Water Supply and Sewerage Board’, Bengaluru (PAN AAALB0015G) a Board constituted by the Government of Karnataka, in respect of the following specified income arising to that Board, namely:-
(a) Water Charges;
(b) Sanitary and Borewell Charges;
(c) Special Sanitary Charges;
(d) Meter Charge;
(e) Bulk Water Charges;
(f) Rent; and
(g) Interest on surplus amount earned out of the above.
2. This notification shall be effective subject to the conditions that Bangalore Water Supply and Sewerage Board, Bengaluru,-
(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.
3. This notification shall apply with respect to the assessment year 2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025.
[Notification No. 56 /2019/F.No. 300196/67/2018-ITA-I]
RAJARAJESWARI R., Under Secy.
CAclubindia
Source : https://www.incometaxindia.gov.in/communications/notification/notification_56_2019.pdf