07 August 2024

The Central Government has granted tax exemption to the Karnataka State Natural Disaster Monitoring Centre (PAN: AAATD2434P) under clause (46) of section 10 of the Income-tax Act, 1961. This exemption applies to grants-in-aid from both the State and Central Governments, income from data sharing activities, and interest on bank deposits. 

The Centre must adhere to conditions such as not engaging in commercial activities, maintaining consistent activities and income types, and filing returns as specified under clause (g) of sub-section (4C) of section 139. This notification is effective for assessment years 2021-2022 through 2025-2026.