Notification No. 126/2021 [F. No. 300196/3/2021-ITA-I] / S.O. 4524(E)

Last updated: 17 November 2021

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This notification grants income tax exemption to the Madhya Pradesh Pollution Control Board for specific types of income. These include grants, various fees for services like consent, analysis, and authorization, reimbursements, interest on deposits, and fees related to public hearings and training. The exemption is valid for the financial years 2021-2022 through 2025-2026, provided the Board does not engage in commercial activities and its income sources remain consistent.

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 126/2021 Income Tax New Delhi, the 29th October, 2021 S.O. 4524(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, Madhya Pradesh Pollution Control Board (PANAAALM2479H), a Board constituted by the State Government of Madhya Pradesh under the Water (Pre

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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 notification designates the Madhya Pradesh Pollution Control Board as an entity eligible for income tax exemption on specified income sources.

The exemption covers grants, consent fees, analysis fees, authorization fees, cess reimbursements, interest on deposits, public hearing fees, and fees from various monitoring and training activities, among others.

The Board must not engage in any commercial activity, its specified income sources must remain unchanged, and it must file its income tax return as per the Income-tax Act.

This notification applies to the financial years 2021-2022, 2022-2023, 2023-2024, 2024-2025, and 2025-2026.

No, the exemption is specifically for the income sources listed in the notification, such as grants, fees, and reimbursements, and is subject to certain conditions.

Notification No : 126/2021 – Income Tax
Source : https://incometaxindia.gov.in/communications/notification/notification-126-2021.pdf

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