CBDT has recently provided exemption
under Income tax Act, 1961 to various institutions/ entities by exercising
powers conferred various sections of the said Act. List of Institutions/
entities which are exempted are as under:
|
Name of Institution
/ Entity |
Notification No. |
Exemption provided
under which Section of the Income Tax Act, 1961? |
|
Competition Commission of India (PAN : AAAGC0012M) |
Specified Income exempt u/s 10(46) subject to below mentioned
conditions |
|
|
Haryana Building and Other Construction Workers Welfare Board ( PAN : AAATH6995H) |
Specified Income exempt u/s 10(46) subject to below mentioned
conditions |
|
|
M/s Patanjali Research Foundation Trust, Haridwar (PAN : AABTP8183E) |
Research Association for Scientific Research u/s 35(1)(ii) |
|
|
Haryana Labour Welfare Board (PAN : AAATH2451C) |
Specified Income exempt u/s 10(46) subject to below mentioned
conditions |
|
|
Himachal Pradesh Computerization of Police Society (PAN : AABAH0360G) |
Specified Income exempt u/s 10(46) subject to below mentioned
conditions |
Conditions for availing exemption are as under:
(a) It 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) It 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.
(d) It shall
file the Audit report along with the Return, duly verified by the accountant as
provided in explanation to section 288(2) of the Income-tax Act, 1961 along
with a certificate from the chartered accountant that the above conditions are
satisfied.
NOTE: For meaning of specified income of each of the above entity, please refer to their respective notification.
Feel free to contact in case of any query or consultation.
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