(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi, the 27th May, 2020
S.O. 1659(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, ‘Cochin Special Economic Zone Authority’, Kochi (PAN AAAGC0659L), a authority constituted by the Government of India, in respect of the following specified income arising to that Authority, namely:-
- Lease rent (charged as per Government prescribed rate);
- Interest from banks on RDRs;
- Receipts from I-Card and permit fee;
- Allotment Fee in respect of Standard Design Factories (SDF);
- Auction/Bid amount in respect of Plots/Buildings which fall vacant;
- Transfer charges in respect of Plot/Building;
- Fee for issue of Form-I for exemption of Building Plans;
[भाग II—खण्ड 3(ii)] भारत का राजपत्र : साधारण 3
- Processing fee for approval of Building Plans;
- Usage charges from Service provided;
- License fee for allotment of Staff Quarters to the Staff;
- Integrated Water Management Systems (IWMS) (Water Treatment Plant (WTP), Common Effluent Treatment Plant (CETP), Incinerator, Biogas Plant) charges/fees/fine etc.;
- Power Distribution Business; and
- From the sale of miscellaneous scrap/waste.
- This notification shall be effective subject to the conditions that Cochin Special Economic Zone Authority,
- shall not engage in any commercial activity;
- activities and the nature of the specified income shall remain unchanged throughout the financial years; and
- 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.
- 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.
- This notification shall be deemed to have been applied for the assessment years 2018-2019 and 2019-2020 and shall apply with respect to the assessment years 2020-2021, 2021-2022 and 2022-2023.
PRAJNA PARAMITA, Director