CBDT extends income tax exemption to certain non-profit entities


The central government has extended the exemption to income tax under section 10 of the Income-tax Act, 1961 available to non profit organizations to the following entities:

  1. Bellary Urban Development Authority
  2. Karnataka State Rural Livelihood Promotion Society
  3. Madhya Pradesh Professional Examination Board
  4. District Legal Service Authority Union Territory Chandigarh
  5. ‘Karmayogi Bharat’ compan
  6. Haryana State Board of Technical Education, Panchkula

subject to the fulfilment of the following conditions, namely:

  1. Shall not engage in any commercial activity;
  2. Activities and the nature of the specified income shall remain unchanged throughout the financial year; and
  3. 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.

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