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 SECTION 10(46) OF THE INCOME-TAX ACT, 1961 - EXEMPTIONS - STATUTORY BODY/AUTHORITY/BOARD/COMMISSION - NOTIFIED BODY OR AUTHORITY - TAMIL NADU WATER SUPPLY AND DRAINAGE BOARD

NOTIFICATION NO. 5/2015 [F.NO.196/28/2013-ITA.I]/ SO 200(E) , DATED 20-1-2015

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, the 'Tamil Nadu Water Supply and Drainage Board ', a Board constituted under the Tamil Nadu Water Supply and Drainage Board Act, 1970 (Tamil Nadu Act No. 4 of 1971) in respect of the following specified income arising to that body, namely:—

(a)   centage at rates prescribed by the Government of Tamil Nadu;
(b)   water charges (at Water Tariff fixed by the Government of Tamil Nadu) collection from local bodies for bulk water supply;
(c)   interest on bank deposits and investments, rent and deposits received from local bodies.

2. This notification shall be subject to the conditions that Tamil Nadu Water Supply and Drainage Board:—

(a)   shall not engage in any commercial activity;
(b)   its activities and the nature of the specified income remain unchanged throughout the financial year(s), and
(c)   shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the said Act.

3. This notification shall be applicable for the Financial years 2013-14 to 2017-18.