The Central Board of Direct Taxes (CBDT) on November 24, 2023, issued a notification for the purposes of the ‘Chhattisgarh Rajya Beej Pramanikaran Sanstha (PAN AADAC3163E) a Body constituted by the Government of Chhattisgarh, in respect of the certain specified income arising to that body.
The following are the specified income arising to the body namely: -
• Grants received from Central and State Governments.
• Money received by way of application, Certification fees, and other service charges.
• Interest earned on Term/Fixed Deposits in the banks the aforementioned points
This notification shall be effective subject to the conditions that Chhattisgarh Rajya Beej Pramanikaran Sanstha 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 the 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 2019-2020, 2020-2021, 2021- 2022, 2022-2023 and 2023-2024 relevant for the financial years 2018-2019, 2019-2020, 2020-2021, 2021-2022 and 2022-2023, respectively.
[Notification No. S.O. 5044(E)]
