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Date: 16-Aug-2023 Category: Extra Ordinary State: Union Government Country: India

Notification under 10(46) of the Act in case of Haryana Water Resources (Conservation, Regulation and Management) Authority

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

What it means

  • The notification grants an exemption under Section 10(46) of the Income-tax Act, 1961 to the ‘Haryana Water Resources (Conservation, Regulation and Management) Authority’ for specified income. This means that the specified income of the Authority will not be subject to income tax.
  • The exemption applies retroactively to assessment years 2022-2023 and 2023-2024, relevant to financial years 2021-2022 and 2022-2023 respectively.

Key Changes

  • Exemption from income tax is provided for the following income of the Haryana Water Resources (Conservation, Regulation and Management) Authority:
  • Grants received from the Haryana State Government.
  • Application fees and tariff fees received from users.
  • Interest earned on the above grants and fees.
  • The exemption is conditional upon the Authority not engaging in any commercial activity, maintaining the nature of its activities and specified income, and filing income tax returns as per Section 139(4C)(g) of the Income-tax Act, 1961.

Impact Analysis

Haryana Water Resources (Conservation, Regulation and Management) Authority

  • Action Item: Ensure compliance with the conditions stipulated in the notification, including refraining from commercial activities, maintaining consistency in activities and income nature, and timely filing of income tax returns.

Haryana State Government

  • Action Item: Monitor the Authority's compliance with the notification's conditions to ensure continued eligibility for the tax exemption.

Users of Water Resources

  • No direct action item identified.

Central Board of Direct Taxes (CBDT)

  • Action Item: Ensure the notification is properly implemented and that the Authority complies with the specified conditions for the tax exemption. Monitor the Authority's activities and income to ensure adherence to the conditions.

Key Entities Referenced

Haryana Water Resources (Conservation, Regulation and Management) Authority: An Authority established by the State Government of Haryana (PAN AADAH3590A) responsible for water resource management. Income-tax Act, 1961: The principal legislation governing income tax in India. Section 10(46) provides for exemptions for specified bodies or authorities. Central Board of Direct Taxes (CBDT): A part of the Department of Revenue in the Ministry of Finance, responsible for the administration of direct tax laws.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-16082023-248136 CG-DxLx-xEG-I1D6H0x8x2x0 23-248136 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 3508] नई दिल्ली, बुधिार, अगस्ट्त 16, 2023/श्रािण 25, 1945 No. 3508] NEW DELHI, WEDNESDAY, AUGUST 16, 2023/SHRAVANA 25, 1945 जित्त मत्रं ालय रािस्ट्ि जिभाग (केंद्रीय प्रत्यक्ष कर बोडड) अजधसचू ना नई दिल्ली, 16 अगस्ट्त ,2023 का.आ. 3667(अ).—केन्द्द्र सरकार, आयकर अजधजनयम, 1961 (1961 का 43) की धारा 10 के खंड (46) द्वारा प्रित्त िजियों का प्रयोग करते हुए, ‘हररयाणा िल संसाधन (सरं क्षण, जिजनयमन और प्रबंधन) प्राजधकरण’ (पैनः- AADAH3590A), हररयाणा राज्य सरकार द्वारा संस्ट्थाजपत प्राजधकरण को, उस प्राजधकरण को उद्भूत होन े िाली जनम्नजलजखत जिजनर्िष्टड आय के संबंध में उि खंड के प्रयोिनाथ डअजधसूजचत करती ह,ै अथाडत:् - (क) हररयाणा राज्य सरकार से प्राप्त अनिु ान; (ख) प्रयोगकताडओं से प्राप्त आिेिन िल्ु क एिं टैररफ फीस; और (ग) उपयुडि (क) एि ं(ख) पर अर्िडत ब्याि। 2. यह अजधसूचना जनम्नजलजखत के अध्यधीन प्रभािी होगी दक हररयाणा िल संसाधन (संरक्षण, जिजनयमन और प्रबंधन) प्राजधकरण:- (क) दकसी व्यािसाजयक कायडकलाप में जलप्त नहीं होगा; (ख) जित्तीय िर्षों के िौरान कायडकलाप तथा जिजनर्िष्टड आय की प्रकतजत अपररिर्तडत रहगे ी; और 5286 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] (ग) आयकर अजधजनयम 1961, की धारा 139 की उप-धारा (4ग) के खंड (छ) के प्रािधान के अनुसार आयकर जििरणी फाईल करेगा। 3. यह अजधसूचना जनधाडरण िर्षों 2022-2023 और 2023-2024 के जलए लागू की गई मानी िाएगी तथा यह क्रमिः जित्त िर्षों 2021-2022 और 2022-2023 के जलए सगं त होगी। [अजधसूचना सं. 63 /2023 फा.सं. 300196/8/2022-आईटीए-I] जिकास ससंह, जनिेिक, आईटीए-I व्याख्यात्मक ज्ञापन यह प्रमाजणत दकया िाता ह ै दक इस अजधसूचना को भूतलक्षी प्रभाि िेने से दकसी व्यजि पर प्रजतकूल प्रभाि नहीं पड़ रहा ह।ै MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 16th August, 2023 S.O. 3667(E).—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, ‘Haryana Water Resources (Conservation, Regulation and Management) Authority’ (PAN AADAH3590A), an Authority established by the State Government of Haryana, in respect of the following specified income arising to that Authority, namely: (a) grants received from State Government of Haryana; (b) application fee & Tariff fee received from users; and (c) interest earned on (a) & (b) above. 2. This notification shall be effective subject to the conditions that Haryana Water Resources (Conservation, Regulation and Management) Authority:- (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 assessment years 2022-2023 and 2023-2024 relevant to financial years 2021-2022 and 2022-2023 respectively. [Notification No. 63/2023/F.No.300196/8/2022-ITA-I] VIKAS SINGH, Director, ITA-I Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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