{"id":10068,"date":"2020-06-03T17:53:33","date_gmt":"2020-06-03T12:23:33","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=10068"},"modified":"2020-12-08T12:04:19","modified_gmt":"2020-12-08T06:34:19","slug":"cbdt-specified-income-exempted-for-uttarakhand-environment-protection-pcb-cochin-sez-authority","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/cbdt-specified-income-exempted-for-uttarakhand-environment-protection-pcb-cochin-sez-authority\/","title":{"rendered":"CBDT: Specified Income Exempted for Uttarakhand Environment Protection &#038; PCB &#038; Cochin SEZ Authority"},"content":{"rendered":"\n<p class=\"has-drop-cap\">According to the <strong>Notification No. 28\/2020<\/strong>, the Central Board of Direct Taxes (CBDT) on Wednesday 28\/5; reports the approval of <strong>Income Tax Exemption<\/strong> to<strong> Uttarakhand Environment Protection and Pollution Control Board<\/strong> (PAN AAALU0160D) \u2013 a Board constituted by the Government of Uttarakhand, &amp; \u2018<strong>Cochin Special Economic Zone Authority<\/strong>\u2019, Kochi. It was held in terms of the subsequent specified income reflecting to that Board, under section 10(46) of Income Tax Act, 1961.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Uttarakhand Environment Protection &amp; Pollution Control\nBoard: Specified Income<\/h2>\n\n\n\n<p>According to the<strong> S.O 1658 (E)<\/strong> &#8211; Central Government hereby notifies for the determinations in exercise of the powers deliberated by <strong>clause (46)<\/strong> of <strong>section 10 of<\/strong> the Income-tax Act<sup><a href=\"https:\/\/www.incometaxindia.gov.in\/pages\/acts\/income-tax-act.aspx\">[1]<\/a><\/sup>, <strong>1961 (43 of 1961).<\/strong> It has marked the order for Board constituted by the Government of Uttarakhand i.e \u2018Uttarakhand Environment Protection &amp; Pollution Control Board\u2019, Dehradun (PAN AAALU0160D) in conditional terms of few specified income arising to that Board.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Recognition of Specified Income<\/h3>\n\n\n\n<p>Consequently, the specified income included in terms of the Uttarakhand Environment Protection &amp; Pollution Control Board constituted by the Government of Uttarakhand are as follows:-<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"577\" height=\"835\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/06\/image-21.png\" alt=\"Pollution Control Board constituted by Uttarakhand\" class=\"wp-image-10070\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/06\/image-21.png 577w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/06\/image-21-207x300.png 207w\" sizes=\"(max-width: 577px) 100vw, 577px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Conditional Subjects<\/h3>\n\n\n\n<p>This notification provided by CBDT; concedes\nwith few Conditional subjects involved in terms of the exemption\ngiven\/provided. It will be operative with the subject to the conditions that\nUttarakhand Environment Protection and Pollution Control Board must stand by\nthe following conditions.<\/p>\n\n\n\n<p><strong>Those\nare as follows<\/strong>:- <\/p>\n\n\n\n<ul><li>They shall not take part in any <strong>commercial transactions or activit<\/strong>ies.<\/li><li>All the activities and the <strong>nature<\/strong> of the <strong>specified income<\/strong> must <strong>remain\nunpretentious<\/strong> all the way through the financial years.<\/li><li>They should file the return of income in agreement\nwith the provision of <strong>section 139, clause\n(g) of sub-section (4C)<\/strong> of the Income-tax Act, 1961.<\/li><li>They should file the Audit report along with a\ncertificate from the <strong>chartered\naccountant<\/strong> as an attachment that the above conditions are contented. It\nshould also attach along with the Return, duly substantiated by the <strong>accountant<\/strong> as mentioned in explanation\nto <strong>section 288(2)<\/strong> of the Income-tax\nAct, 1961.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Time\nFrame<\/h3>\n\n\n\n<p>According to this latest pronouncement pertaining to Uttarakhand Environment Protection &amp; Pollution Control Board, this notification shall apply with terms to the assessment years <strong>2020-2025<\/strong>, i.e., \u201c2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025\u201d<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/cbdt-notice-on-refunds-release-welfare-fund-eligibility-for-it-may-2020\/\">CBDT Notice on Refunds Release &amp; Welfare fund Eligibility for IT: May, 2020\n<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Cochin Special Economic Zone Authority: Specified Income<\/h2>\n\n\n\n<p><strong>According\nto the \u201cNotification No. 27\/2020-Income Tax\u201d, <\/strong>the Central Government hereby\ninforms to deliver the notification for the exemption of the said clause<strong> i<\/strong>n the application of the\npowers discussed by clause (46) of section 10 of the Income-tax Act, 1961 (43\nof 1961), \u2018Kochi (PAN AAAGC0659L), <strong>Cochin Special Economic Zone Authority<\/strong>\u2019, an authority\nconstituted by the Government of India in respect of few specified income\narising to that Authority.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Recognition of Specified Income<\/h3>\n\n\n\n<p>Consequently, including of the specified income in respect Kochi (PAN AAAGC0659L), <strong>Cochin Special Economic Zone Authority<\/strong>\u2019, an authority constituted by the Government of India are as follows:-<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"628\" height=\"911\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/06\/image-22.png\" alt=\"Cochin Special Economic Zone Authority\" class=\"wp-image-10073\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/06\/image-22.png 628w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/06\/image-22-207x300.png 207w\" sizes=\"(max-width: 628px) 100vw, 628px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Conditional Subjects <\/h3>\n\n\n\n<p>This notification concedes with few\nConditional subjects attached in terms of the exemption given\/provided. It\nshall be effective, subject to the conditions that Cochin Special Economic Zone\nAuthority, Kochi must abide by the following terms.<\/p>\n\n\n\n<p><strong>Those\nare as follows:-<\/strong><\/p>\n\n\n\n<ul><li>Cochin Special Economic Zone Authority shall\nnot take part in any <strong>commercial\ntransactions or activity<\/strong>.<\/li><li>All the activities and the nature of the\nspecified income must <strong>remain\nunpretentious<\/strong> all the way through the financial years.<\/li><li>Cochin Special Economic Zone Authority <strong>should file the return<\/strong> of income in\nagreement with the provision of section 139, clause (g) of sub-section (4C) of\nthe Income-tax Act, 1961.<\/li><li>Cochin Special Economic Zone Authority should\nfile the Audit report along with a certificate from the <strong>chartered accountant<\/strong> as an attachment that the above conditions are\ncontented. It should also attach along with the Return, duly substantiated by\nthe accountant as mentioned in explanation to section 288(2) of the Income-tax\nAct, 1961.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Time Frame <\/h3>\n\n\n\n<p>According to this latest pronouncement pertaining to <strong>Cochin\nSpecial Economic Zone Authority<\/strong>\u2019, this notification shall apply with terms to\nthe assessment years <strong>2020-2025,<\/strong>\ni.e., \u201c2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion <\/h2>\n\n\n\n<p><a href=\"https:\/\/corpbiz.io\/\"><strong>CorpBiz<\/strong><\/a> professionals are prepared with the essential knowledge and skillsets to help businesses achieve their vision and contract with risks that could disturb their business presence. We at CorpBiz have expert legal consultants to aid you with the process of tax exemptions for your charitable reflections, confirming the fruitful and timely fulfillment of your work. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/cbdt-on-annual-information-statement-new-avatar-form-26as\/\">\nCBDT on Annual Information Statement: New Avatar Form 26AS\n<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the Notification No. 28\/2020, the Central Board of Direct Taxes (CBDT) on Wednesday 28\/5; reports the approval of Income Tax Exemption to Uttarakhand Environment Protection and Pollution Control Board (PAN AAALU0160D) \u2013 a Board constituted by the Government of Uttarakhand, &amp; \u2018Cochin Special Economic Zone Authority\u2019, Kochi. It was held in terms of [&hellip;]<\/p>\n","protected":false},"author":20,"featured_media":10076,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[10,153],"tags":[624],"acf":{"service_id":"403"},"authorName":"Archita Bhattacharjee","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/03\/WhatsApp-Image-2020-03-18-at-11.26.19-AM-1.jpeg","authorDescription":"Archita Bhattacharjee is working as Legal Analyst (Team Lead, Research &amp; Development) at Corpbiz and has proving experience about 2 years as Corporate Legal Researcher in law firms as well as Rajya Sabha and authors in diverse publications. She has refined her skills by representing India in Paris, France and the University of Leiden over implications of International Humanitarian and Criminal Law being certified member of many Legal Centers.","postViews":4233,"readingTime":3,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/10068"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=10068"}],"version-history":[{"count":17,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/10068\/revisions"}],"predecessor-version":[{"id":21291,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/10068\/revisions\/21291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/10076"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=10068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=10068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=10068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}