CBDT Notifies ‘Godavari River Management Board’ for Sec. 10(46) Exemption
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- By Chetan Kulasri
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- Last Updated on 7 December, 2023
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Notification No. 102/2023, dated 05-12-2023
The Central Board of Direct Taxes (CBDT) has notified ‘Godavari River Management Board’ for the purposes of clause (46) of section 10 of the Income-tax Act, 1961, with respect to the following incomes:
a) Grants/Subsidies received from Central Government;
b) Grants/Subsidies received from State Governments of Andhra Pradesh and Telangana; and
c) Interest from bank deposits, including savings accounts.
The exemption will be applicable subject to certain conditions. Further, the exemption shall be applicable retrospectively for assessment years 2020-2021 to 2023-2024.
Click Here To Read The Full Notification
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