Ministry of Finance Department of Revenue Central Board of Direct Taxes

Notification u/s 10(46) of the Income Tax Act, 1961 in the case of Maharashtra State Pharmacy Council

Issue Date: 02 September 2025 Published: 02 September 2025

Gazette ID: CG-DL-E-02092025-265891 Download PDF

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Core Purpose

The Central Government notifies 'Maharashtra State Pharmacy Council' for exemption from income tax on specified incomes under clause (46) of section 10 of the Income-tax Act, 1961.

Detailed Summary

The Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, issued Notification S.O. 4010(E) on 2nd September, 2025, in exercise of powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961). This notification designates the 'Maharashtra State Pharmacy Council' (PAN: AAHAM7600C), a body constituted by the Government of Maharashtra, for exemption from income tax on its Fees and Subscriptions and Interest Income. The exemption is subject to conditions: the Council shall not engage in commercial activity, its activities and specified income nature must remain unchanged throughout financial years, and it must file a return of income as per clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961. This notification is deemed to have applied retrospectively for financial years 2018-19, 2019-20, 2020-21, 2021-2022, 2022-23, relevant to assessment years 2019-20, 2020-21, 2021-2022, 2022-23, 2023-24. An Explanatory Memorandum certifies that no person is adversely affected by this retrospective effect. The notification number is 144/2025/F. No. 300196/15/2019-ITA-I.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-02092025-265891 EXTRAORDINARY PART II—Section 3—Sub-section (ii) PUBLISHED BY AUTHORITY No. 3905] NEW DELHI, TUESDAY, SEPTEMBER 2, 2025/BHADRA 11, 1947 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 2nd September, 2025 (Income-tax) S.O. 4010(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, 'Maharashtra State Pharmacy Council' (PAN: AAHAM7600C), a body constituted by the Government of Maharashtra, in respect of the following specified income arising to that Council, namely:- (a) Fees and Subscriptions. (b) Interest Income 2. This notification shall be effective subject to the conditions that Maharashtra State Pharmacy Council - (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 financial years 2018-19, 2019-20, 2020-21, 2021-2022, 2022-23 relevant to assessment year 2019-20, 2020-21, 2021-2022, 2022-23, 2023-24. [Notification No. 144/2025/F. No. 300196/15/2019-ITA-I] MEENAKSHI SINGH, Dy. Secy. 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.

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