notification no. 98/2024 f.no. 300196/9/2020 ita i / so 3202 e

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हह MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 7th August, 2024 (INCOME-TAX) S.O. 3202(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, ‘Karnataka State Natural Disaster Monitoring Centre’ (PAN:AAATD2434P), a body constituted by the State Government of Karnataka, in respect of the following specified income arising to that body, namely:- (a) Grant –in-aid received from State Govt. and Govt. of India, (b) Income received from data sharing activities, and (c) Interest on bank deposits 2. This notification shall be effective subject to the conditions that Karnataka State Natural Disaster Monitoring Centre - (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. 3. This notification shall be deemed to have been applied for the assessment years 2021-2022, 2022-2023 and 2023-2024 relevant for the financial years 2020-2021, 2021-2022 and 2022-2023 and shall be applicable for the assessment years 2024-2025 and 2025-2026 relevant for the financial years 2023-2024 and 2024-2025 respectively. [Notification No. 98/2024/F.No.300196/9/2020-ITA-I] VIKAS SINGH , Director (ITA-I) Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.