The Central Board of Direct Taxes (CBDT) on June 12, 2024, notified for the purposes of the Kerala Co-operative Deposit Guarantee Fund Board (PAN: AANFK3180E), established in respect of the specified income arising by the Kerala Government.
The following are the specified income arising to the Commission namely:
• Contribution received from the Government of Kerala
• Contribution received from society(ies) as defined in paragraph 2(k) of the Kerala Co‐operative Deposit Guarantee Scheme.
• Interest on bank deposits
This notification shall be effective subject to the conditions that Kerala Co-operative Deposit Guarantee Fund Board:
• Shall not engage in any commercial activity;
• It’s activities and the nature of the specified income shall remain unchanged throughout the financial year(s); and
• 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 2019-2020, 2020-2021, 2021-2022, 2022-2023 and 2023-24 relevant for the financial years 2018-2019, 2019-2020, 2020-2021, 2021-2022 and 2022-23 respectively.
[Notification No S.O. 2242(E)]
