In this study, three cold-active fungi, Penicillium canesence (BPF4), Truncatella angustata (BPF5), and Pseudogymnoascus roseus (BPF6) available as laboratory stocks have been screened for their ability to produce extracellular xylanases at cold temperature. The selection of hyper producing strains of xylanase was carried out on Potato Dextrose Agar (PDA) medium fortified with 1% (w/v) of xylan incubated at 20oC for seven days. Selection for best producer of xylanase was done on the basis of breadth of clear zones observed after flooding the plates with Gram’s iodine indicating the hydrolysis of xylan by xylanase around the colonies. The fungus T. angustata was found to produce the highest amount of xylanase followed by P. roseus and P. canesence in that order. The cold-active xylanase-secreting ability of the fungal species was verified by incubating them in xylanase producing medium at 20oC. Consequently, T. angustata, P. roseus and P. canesence were found to produce xylanase activity equal to 11.0 IU/ml, 7.0 IU/ml and 5.9 IU/ml respectively. Under submerged fermentation xylanase was maximally produced at 20oC and pH 4.5 and 9. Effect of carbon source, nitrogen source, metal ions and surfactants was also observed and fungus showed remarkable production of 0.166 IU/ml in presence of fructose. The nitrogenous compound NaNO3 was found the best for xylanase production. Among the metal salts tested, MnSO4 was the unchallenged source of metal that induced xylanase production, other metals seemed rather to inhibit xylanase production by the fungus. Both the surfactants tested were also inhibitory to the xylanase production. Activity of xylanase production was confirmed by measuring the amount of reducing sugars liberated from the medium by the DNS method using crude extract. This is the first report of the fungus T. angustata having cold-active xylanases producing ability.