CBDT Standardizes the Process of Filing Application u/s 10(46A)

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By Taxmann
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Last Updated on 23 August, 2024

F.No.196/82/2024-ITA-I, dated 20-08-2024

Section 10(46A) exempts any income arising to a body, authority, Board, Trust, or Commission, not being a company, which has been established or constituted by or under a Central or State Act for specified purposes. For the purpose of availing exemption, such body or authority or Board or Trust or Commission is required to be notified by the Central Government in the official Gazette.

The Central Board of Direct Taxes has prescribed a procedure and an annexure to standardise the application process under section 10 (46A) and avoid procedural delays in processing it. Applicants are advised to file the applications along with the requisite enclosures with the Pr. Commissioner or Commissioner of Income-tax or Pr. Director or Director of Income-tax under whose jurisdiction their cases fall.

The applicants are further advised to adopt the Format laid as per Annexure-A enclosed under the instruction while submitting the application along with its enclosures.

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