Godavari River Management Board notified under section 10
Godavari River Management Board notified under section 10(46) of the Income-tax Act, 1961
S.O. 5169(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, ‘Godavari River Management Board, Hyderabad’ (PAN AAAGG1473Q), a Board constituted by Central Government in pursuance of section 85 of the Andhra Pradesh Re-Organization Act, 2014, in respect of the following specified income arising to the said Authority, as follows:
(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 account.
- This notification shall be effective subject to the conditions that Godavari River Management Board,
Hyderabad –
(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. - This notification shall be deemed to have been applied for assessment years 2020-21 to 2023-2024 relevant for the financial years 2019-20 to 2022-2023 respectively.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
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