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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 127/2021-Income Tax New Delhi, the 29th October, 2021 S.O. 4525(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, Gujarat State Aids Control Society (PANAAATG3628A), a Society constituted by the State Government of Gujarat, in respect of the following spe
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FAQ :
Notification No. 127/2021 notifies that the Gujarat State AIDS Control Society is eligible for certain income tax exemptions under the Income-tax Act, 1961.
The notification covers grants received from NACO and any interest income earned on these grants.
The society 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 provisions of the Income-tax Act.
This notification is effective retrospectively from 1st June 2020 to 31st March 2021, and will apply for the financial years 2021-2022, 2022-2023, 2023-2024, and 2024-2025.
This notification was issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes.
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Source : https://incometaxindia.gov.in/communications/notification/notification-127-2021.pdf