India - Income Tax Act 2010 - Saarc

1.77 CH. III - INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME S. 10(23BBC)(ii) 29 “khadi” and “village industries” have the meanings respectivelyassigned to them in that Act;]30[(23BB) any income of an authority (whether known as the Khadi and VillageIndustries Board or by any other name) established in a State by orunder a State or Provincial Act for the development of khadi or villageindustries in the State.Explanation.—For the purposes of this clause, 29 “khadi” and “villageindustries” have the meanings respectively assigned to them in theKhadi and Village Industries Commission Act, 1956 (61 of 1956);]30[(23BBA) any income of any body or authority (whether or not a body corporateor corporation sole) established, constituted or appointed by or underany Central, State or Provincial Act which provides for the administrationof any one or more of the following, that is to say, publicreligious or charitable trusts or endowments (including maths,temples, gurdwaras, wakfs, churches, synagogues, agiaries or otherplaces of public religious worship) or societies for religious orcharitable purposes registered as such under the Societies RegistrationAct, 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 fromtax the income of any trust, endowment or society referred totherein;]31[(23BBB) any income of the European Economic Community derived in Indiaby way of interest, dividends or capital gains from investments madeout of its funds under such scheme 32 as the Central Government may,by notification in the Official Gazette, specify in this behalf.Explanation.—For the purposes of this clause, “European EconomicCommunity” means the European Economic Community establishedby the Treaty of Rome of 25th March, 1957;]33[(23BBC ) any income of the SAARC Fund for Regional Projects set up byColombo Declaration issued on the 21st day of December, 1991 by theHeads of State or Government of the Member Countries of SouthAsian Association for Regional Cooperation established on the 8thday of December, 1985 by the Charter of the South Asian Associationfor Regional Cooperation;]29. Clauses (d) and (h) of section 2 of the Khadi and Village Industries Commission Act, 1956,define “khadi” and “village industries” as follows :‘(d) “khadi” means any cloth woven on handlooms in India from cotton, silk or woollenyarn handspun in India or from a mixture of any two or all of such yarns;(h) “village industries” means all or any of the industries specified in the Schedule andincludes any other industry deemed to be specified in the Schedule by reason of anotification under section 3.’30. Inserted by the Finance Act, 1979, w.r.e.f. 1-4-1962.31. Inserted by the Finance Act, 1993, w.e.f. 1-4-1994.32. For notified scheme, see Taxmann’s Master Guide to Income-tax Act.33. Inserted by the Finance (No. 2) Act, 1996, w.r.e.f. 1-4-1992.