Income Tax Act, 1961
Section 6: Ins. by Act 21 of 1979, s. 3 (w.e.f. 11962).
6. Ins. by Act 21 of 1979, s. 3 (w.e.f. 11962).
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Explanation.—For the purposes of this clause, “khadi” and “village industries” have the
meanings respectively assigned to them in the Khadi and Village Industries Commission Act, 1956
(61 of 1956);
(23BBA) any income of any body or authority (whether or not a body corporate or corporation
sole) established, constituted or appointed by or under any Central, State or Provincial Act which
provides for the administration of any one or more of the following, that is to say, public religious or
charitable trusts or endowments (including maths, temples, gurdwaras, wakfs, churches, synagogues,
agiaries or other places of public religious worship) or societies for religious or charitable purposes
registered as such under the Societies Registration Act, 1860 (21 of 1860), or any other law for the
time being in force:
Provided that nothing in this clause shall be construed to exempt from tax the income of any trust,
endowment or society referred to therein;]
1[(23BBB) any income of the European Economic Community derived in India by way of
interest, dividends or capital gains from investments made out of its funds under such scheme as the
Central Government may, by notification in the Official Gazette, specify in this behalf.
Explanation.—For the purposes of this clause, “European Economic Community” means the
European Economic Community established by the Treaty of Rome of 25th March, 1957;]
2[(23BBC) any income of the SAARC Fund for Regional Projects set up by Colombo Declaration
issued on the 21st day of December, 1991 by the Heads of State or Government of the Member
Countries of South Asian Association for Regional Cooperation established on the 8th day of
December, 1985 by the Charter of the South Asian Association for Regional Cooperation;]
3[(23BBD) any income of the Secretariat of the Asian Organisation of the Supreme
Audit Institutions registered as “ASOSAI-SECRETARIAT” under the Societies Registration
Act, 1860 (21 of 1860) for 4[ten previous years relevant to the assessment years beginning on the
1st day of April, 2001 and ending on the 31st day of March, 2011];
(23BBE) any income of the Insurance Regulatory and Development Authority established under
sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999
(41 of 1999);]
5[(23BBF) any income of the North-Eastern Development Finance Corporation Limited, being a
company formed and registered under the Companies Act, 1956 (1 of 1956):
Provided that in computing the total income of the North-Eastern Development Finance
Corporation Limited, the amount to the extent of—
(i) twenty per cent. of the total income for assessment year beginning on the 1st day of
April, 2006;
(ii) forty per cent. of the total income for assessment year beginning on the 1st day of
April, 2007;
(iii) sixty per cent. of the total income for assessment year beginning on the 1st day of
April, 2008;
(iv) eighty per cent. of the total income for assessment year beginning on the 1st day of
April, 2009;
(v) one hundred per cent. of the total income for assessment year beginning on the 1st day of
April, 2010 and any subsequent assessment year or years,
shall be included in such total income;]
any income of any body or authority (whether or not a body corporate or corporation
sole) established, constituted or appointed by or under any Central, State or Provincial Act which
provides for the administration of any one or more of the following, that is to say, public religious or
charitable trusts or endowments (including maths, temples, gurdwaras, wakfs, churches, synagogues,
agiaries or other places of public religious worship) or societies for religious or charitable purposes
registered as such under the Societies Registration Act, 1860 (21 of 1860), or any other law for the
time being in force:
Provided that nothing in this clause shall be construed to exempt from tax the income of any trust,
endowment or society referred to therein;]
1[
any income of the European Economic Community derived in India by way of
interest, dividends or capital gains from investments made out of its funds under such scheme as the
Central Government may, by notification in the Official Gazette, specify in this behalf.
Explanation.—For the purposes of this clause, “European Economic Community” means the
European Economic Community established by the Treaty of Rome of 25th March, 1957;]
2[
any income of the SAARC Fund for Regional Projects set up by Colombo Declaration
issued on the 21st day of December, 1991 by the Heads of State or Government of the Member
Countries of South Asian Association for Regional Cooperation established on the 8th day of
December, 1985 by the Charter of the South Asian Association for Regional Cooperation;]
3[
any income of the Secretariat of the Asian Organisation of the Supreme
Audit Institutions registered as “ASOSAI-SECRETARIAT” under the Societies Registration
Act, 1860 (21 of 1860) for 4[ten previous years relevant to the assessment years beginning on the
1st day of April, 2001 and ending on the 31st day of March, 2011];
any income of the Insurance Regulatory and Development Authority established under
sub-section
of section 3 of the Insurance Regulatory and Development Authority Act, 1999
(41 of 1999);]
5[
any income of the North-Eastern Development Finance Corporation Limited, being a
company formed and registered under the Companies Act, 1956 (1 of 1956):
Provided that in computing the total income of the North-Eastern Development Finance
Corporation Limited, the amount to the extent of—
twenty per cent. of the total income for assessment year beginning on the 1st day of
April, 2006;
forty per cent. of the total income for assessment year beginning on the 1st day of
April, 2007;
sixty per cent. of the total income for assessment year beginning on the 1st day of
April, 2008;
eighty per cent. of the total income for assessment year beginning on the 1st day of
April, 2009;
one hundred per cent. of the total income for assessment year beginning on the 1st day of
April, 2010 and any subsequent assessment year or years,
shall be included in such total income;]