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Date: 24-Nov-2023 Category: Extra Ordinary State: Union Government Country: India

Notification under section 10(46) of the Income tax Act 1961 in case of Chhattisgarh Rajya Beej Pramanikaran Sanstha

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

What it means

  • The notification grants income tax exemption to Chhattisgarh Rajya Beej Pramanikaran Sanstha (Chhattisgarh State Seed Certification Agency) on specific income sources.
  • The exemption is applicable retrospectively for assessment years 2019-2020, 2020-2021, 2021-2022, 2022-2023 and 2023-2024.

Key Changes

  • Chhattisgarh Rajya Beej Pramanikaran Sanstha's income from the following sources is now exempt from income tax:
  • Grants received from Central and State Governments.
  • Revenue from application and certification fees, and other service charges.
  • Interest earned on fixed deposits in banks and on the above mentioned grants and revenue.
  • The exemption is conditional upon the Sanstha not engaging in any commercial activity.
  • The activities and nature of specified income must remain unchanged throughout the financial years.
  • The Sanstha must file income tax returns as per Section 139(4C)(g) of the Income-tax Act, 1961.

Impact Analysis

Chhattisgarh Rajya Beej Pramanikaran Sanstha

  • Action Item: Maintain consistent activities and income nature throughout the financial years to remain eligible for the exemption.

Central Government

  • The notification is issued under the powers conferred by Section 10(46) of the Income-tax Act, 1961.

State Government of Chhattisgarh

  • The State Government may need to ensure that the Sanstha adheres to the conditions of the exemption.

Key Entities Referenced

Chhattisgarh Rajya Beej Pramanikaran Sanstha: A body constituted by the State Government of Chhattisgarh, PAN: AADAC3163E. Central Board of Direct Taxes (CBDT): The entity under the Department of Revenue, Ministry of Finance, responsible for issuing the notification. Income-tax Act, 1961: The primary legislation governing income tax in India. Section 10(46) provides the power to grant exemptions to specified bodies.
Official Source Record View Original Source →
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रजजस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-24112023-250250 CG-DxLx-xEG-I2D4H1x1x2x0 23-250250 xxxGIDExxx ऄसाधारण EXTRAORDINARY भाग II—खण् ड 3—ईप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 4835] नइ ददल्ली, िुक्रिार, निम् बर 24, 2023/ऄग्रहायण 3, 1945 No. 4835] NEW DELHI, FRIDAY, NOVEMBER 24, 2023/AGRAHAYANA 3, 1945 जित्त मत्रं ालय (राजस्ट्ि जिभाग) (केंद्रीय प्रत्यक्ष कर बोडड) ऄजधसचू ना नइ ददल्ली, 24 निम् बर, 2023 का.अ. 5044(ऄ).—केंद्र सरकार, अयकर ऄजधजनयम, 1961 (1961 का 43) की धारा 10 के खडं (46) द्वारा प्रदत्त िजियों का प्रयोग करत े हुए, छत्तीसगढ़ राज्य बीज प्रमाणीकरण संस्ट्था (PAN: AADAC3163E), छत्तीसगढ़ राज्य सरकार द्वारा गठित एक जनकाय, ईस जनकाय को ईद्भूत होने िाली जिजनर्ददष्ट अय के संबंध में, ईि खडं के प्रयोजनाथड ऄजधसूजचत करती ह ै,ऄथाडतः (क) केंद्र और राज्य सरकारों स ेप्राप्त ऄनदु ान ; (ख) अिेदन, प्रमाणीकरण िुल्क और ऄन्य सेिा प्रभारों के माध्यम से प्राप्त राजि; और (ग) बैंकों में सािजध/जनयत जमाओं पर और ईपरोि (क) और (ख) पर ऄर्जजत ब्याज। 2. यह ऄजधसूचना आन ितों के ऄध्यधीन प्रभािी होगी दक छत्तीसगढ़ राज्य बीज प्रमाणीकरण संस्ट्था। (क) दकसी भी व्यािसाजयक गजतजिजध में िाजमल नहीं होगी; (ख) गजतजिजधयां और जनर्ददष्ट अय की प्रकृजत पूरे जित्तीय िर्ड में ऄपठरिर्जतत रहगें ी; और 7337 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] (ग) अयकर ऄजधजनयम, 1961 की धारा 139 की ईप-धारा (4ग) के खडं (छ) के प्रािधान के ऄनुसार अय की जििरणी दाजखल करेगी। 3. यह ऄजधसूचना जनधाडरण िर् ड 2019-2020, 2020-2021, 2021-2022, 2022-2023 और 2023-2024 के जलए लागू मानी जाएगी और जनधाडरण िर्ड 2018-2019, 2019-2020, 2020-2021, 2021-2022 और 2022-2023 के जलए प्रासंजगक ह।ै [ऄजधसूचना सं. 100 /2023 /फा. सं. 300196/31/2019-अइटीए-I] जिकास ससह, जनदेिक (अइटीए-I) स्ट्पष्टीकरण ज्ञापन यह प्रमाजणत दकया जाता ह ैदक आस ऄजधसूचना को पूि ड व्यापी प्रभाि से लाग ू करन े स े दकसी व्यजि पर प्रजतकूल प्रभाि नहीं पडेगा। MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 24th November, 2023 S.O. 5044(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, Chhattisgarh Rajya Beej Pramanikaran Sanstha (PAN AADAC3163E), a body constituted by the State Government of Chhattisgarh, in respect of the following specified income arising to that body, as follows: (a) Grants received from Central and State Governments. (b) Money received by the way of application, Certification fees and other service charges. (c) Interest earned on Term/Fixed Deposits in the banks and on (a) to (b) above. 2. This notification shall be effective subject to the conditions that Chhattisgarh Rajya Beej Pramanikaran Sanstha– (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 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.100/2023/F. No. 300196/31/2019-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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