The Central Board of Direct Taxes (CBDT) on August 10, 2023, issued a notification for the purposes of the ‘State Pollution Control Board Odisha’ (PAN AAALS2490J) a Board constituted by the State Government of Odisha, in respect of the certain specified income arising to that Board.
The following are the specified income arising to the Board namely: -
• Regulatory charges under different Environmental Acts & Rules thereunder
• Penalties & Levies collected under governing statutes
• Grant-in-aid received from Central & State Governments
• Grant in Aid received on behalf of Central & State Governments in the capacity of nodal agency
• Share of contributions received for carrying out environmental studies & research
• Miscellaneous income, like sale of scrap, profit on the sale of assets, RTI application fees, forfeiture of Bank Guarantee, tender fees, examination fees, analysis charges, and empanelment of consultant fees, etc.
• Interest earned on the aforesaid points.
This notification shall be effective subject to the conditions that State Pollution Control Board Odisha namely: -
• Shall not engage in any commercial activity
• Activities and the nature of the specified income shall remain unchanged throughout the financial years
• Shall file a 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 be deemed to have been applied for assessment years 2021-22 and 2023-24 relevant for the financial years 2020-2021 and 2022-2023 respectively.
[Notification No. 60 /2023 F.No.300196/6/2020-ITA-I]
