CBDT Notifies Income Tax Exemption To National Farmers Welfare Program Implementation Society
Mariya Paliwala
9 Oct 2023 1:00 PM GMT
The Central Board of Direct Taxes (CBDT) has notified the income tax exemption to National Farmers Welfare Program Implementation Society under section 10 (46) of the Income-tax Act, 1961.The exemption shall be granted to National Farmers Welfare Program Implementation Society on Government Grant, Miscellaneous receipts from RTI, Tender Fee, Fines & Penalties and sale of...
The Central Board of Direct Taxes (CBDT) has notified the income tax exemption to National Farmers Welfare Program Implementation Society under section 10 (46) of the Income-tax Act, 1961.
The exemption shall be granted to National Farmers Welfare Program Implementation Society on Government Grant, Miscellaneous receipts from RTI, Tender Fee, Fines & Penalties and sale of obsolete items; and Interest on deposits.
The notification shall be effective subject to various conditions. ‘National Farmers Welfare Program Implementation Society’ shall not engage in any commercial activity. The activities and the nature of the specified income shall remain unchanged throughout the financial years. National Farmers Welfare Program Implementation Society 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.
Notification No. 85 /2023
Date: 29/09/2023
Click Here To Read The Notification
