SECTION 10(46) OF THE INCOME-TAX ACT, 1961 – EXEMPTIONS – STATUTORY BODY/AUTHORITY/BOARD/COMMISSION – NOTIFIED BODY OR AUTHORITY

NOTIFICATION NO. SO 2276(E) [NO.65/2017 (F.NO.300196/10/2017-ITA-I)], DATED 20-7-2017

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, the State Pollution Control Board, Odisha, a board established by the Government of Odisha, in respect of the following specified income arising to that board, namely:—

(a)		statutory Consent fees;
(b)		share of Water Cess from MOEF &CC, of Government of India;
(c)		penalties & Levies collected under governing statutes;
(d)		grant-in-aid received from Central & State Governments;
(e)		grant in Aid received on behalf of Central & State Governments in the capacity of nodal agency;
(f)		income by way of interest;
(g)		share of contributions received for carrying out environmental studies & research.

2. This notification shall be effective subject to the conditions that State Pollution Control Board, Odisha,—

(a)		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)		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.

3. This notification shall be deemed to have been applied for the financial Years 2015-2016, 2016-2017^* and shall apply with respect to the Financial Years 2017-2018, 2018-2019 and 2019-2020.