Income of Uttarakhand EPPC Board and Cochin SEZ Authority – Now exempt under 10(46) of Income tax act

written by Income tax Expert | May 29, 2020

Vide notification in E-gazette CBDT has exempted various income of Uttarakhand Environment Protection & Pollution Control Board, Dehradun (PAN AAALU0160D) and Cochin Special Economic Zone Authority, Kochi (PAN AAAGC0659L) u/s 10(46) of the Income Tax act for a limited period.

The Income of Uttarakhand Environment Protection & Pollution Control Board, Dehradun (PAN AAALU0160D) which have been exempted are as under:

(a) consent fee;
(b) no objection certificate fee;
(c) bio medical waste fee;
(d) hazardous fee;
(e) stack/analysis fee;
(f) bank guarantee forfeited;
(g) income against RTI application charges;
(h) reimbursement of the expense received from Central Pollution Control Board towards National Air Monitoring Programmes;
(i) monitoring fees;
(j) interest from savings accounts & FDRs;
(k) public hearing fee;
(l) interest from house loan advance to staff; and
(m) income by sale of old scrap items and tender fee etc.

There are few conditions attached which if violated which take away this exemptions and you can read the same in notification.

The above income shall remain exempt for assessment years 2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025.

To read full notification CLICK HERE.

The income of Cochin Special Economic Zone Authority, Kochi (PAN AAAGC0659L) which have been exempted are as follows:

(a) Lease rent (charged as per Government prescribed rate);
(b) Interest from banks on RDRs;
(c) Receipts from I-Card and permit fee;
(d) Allotment Fee in respect of Standard Design Factories (SDF);
(e) Auction/Bid amount in respect of Plots/Buildings which fall vacant;
(f) Transfer charges in respect of Plot/Building;
(g) Fee for issue of Form-I for exemption of Building Plans;
(h) Processing fee for approval of Building Plans;
(i) Usage charges from Service provided;
(j) License fee for allotment of Staff Quarters to the Staff;
(k) Integrated Water Management Systems (IWMS) (Water Treatment Plant (WTP), Common Effluent Treatment Plant (CETP), Incinerator, Biogas Plant) charges/fees/fine etc.;
(l) Power Distribution Business; and
(m) From the sale of miscellaneous scrap/waste.

There are few conditions attached which if violated which take away this exemptions and you can read the same in notification.

This notification shall be deemed to have been applied for the assessment years 2018-2019 and 2019-2020 and
shall apply with respect to the assessment years 2020-2021, 2021-2022 and 2022-2023.

To read full notification CLICK HERE.

 

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