Exemption to West Bengal State Electricity Transmission Company Limited and AIDS Control Society constituted by Govt of Madhya Pradesh

By | March 9, 2016

NOTIFICATION NO. SO 639(E) [NO.12/2016 (F.NO.196/51/2012-ITA.I)], DATED 2-3-2016

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 Load Despatch Centre Unscheduled Interchange Fund–West Bengal State Electricity Transmission Company Limited (PAN AAIAS0980J), a trust constituted under the Electricity Act, 2003 (36 of 2003) in respect of the following specified income arising to that trust, namely :—

(a) residual money in the unscheduled interchange pool balance account;
(b) interest on fixed deposits and auto-sweep accounts; and
(c) income incidental to or related to unscheduled interchange.

2. The notification shall be subject to the following conditions, namely that the State Load Despatch Centre Unscheduled Interchange Fund – West Bengal State Electricity Transmission Company Limited,—

(a) shall not engage in any commercial activity;
(b) shall not change its 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) section 139 of the said Act.

3. This notification shall be deemed to be applicable for the financial years 2012-2013, 2013-2014, 2014- 2015 and applicable for the financial years 2015-2016 and 2016-2017.

 

NOTIFICATION NO. SO 595(E) [NO.9/2016 (F.NO.196/73/2012-ITA.I)], DATED 2-3-2016

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 Madhya Pradesh State AIDS Control Society a body constituted by the Government of Madhya Pradesh in respect of the following specified income arising to that Society, namely:—

(a) amount received in the form of grants-in-aid from the Government of India; and
(b) interest earned on such grants-in-aid.

2. This notification shall be deemed to apply for the period 01.06.2011 to 31.03.2013 and shall apply with respect to the Financial Years 2013-14, 2014-15 and 2015-16.

3. The notification shall be effective subject to the following conditions, namely:—

(a) the Madhya Pradesh State AIDS Control Society does not engage in any commercial activity;
(b) the activities and the nature of the specified income of the Madhya Pradesh State AIDS Control Society remain unchanged throughout the financial year; and
(c) the Madhya Pradesh State AIDS Control Society files return of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the Income-tax Act, 1961.

4. The grants received by the society shall be received and applied in accordance with the prevailing rules and regulations.

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