(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
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:-
- Water Charges;
- Sanitary and Borewell Charges;
- Special Sanitary Charges;
- Meter Charge;
- Bulk Water Charges;
- Rent; and
- Interest on surplus amount earned out of the above.
- This notification shall be effective subject to the conditions that Bangalore Water Supply and Sewerage Board, Bengaluru,-
- 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.
- This notification shall apply with respect to the assessment year 2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025.
RAJARAJESWARI R., Under Secy.