Govt notifies ‘AICTE’, New Delhi, a Council established by the Central Government

Central Government notifies ‘All India Council for Technical Education’, New Delhi, a Council established by the Central Government, in respect of the specified income arising to that council – IT

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION No.42/2019
New Delhi, the 23rd May, 2019

S.O. 1801(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, ‘All India Council for Technical Education’, New Delhi, a Council established by the Central Government, in respect of the following specified income arising to that council, namely:-

(a) Grants/subsidies received from the Government/ Govt. bodies;
(b) Regulatory Charges;
(c) RTI fee and Examination fee;
(d) CMAT/GPAT fee;
(e) Receipts from sale of forms, materials and tender fee;
(f) Receipts from disposal of scrap; and
(g) Interest earned on (a) to (f) above.

2. This notification shall be effective subject to the conditions that All India Council for Technical Education, New Delhi-

(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 apply with respect to the assessment year 2019-2020, 2020-2021, 2021-2022, 2022-2023 and 2023-2024.

[Notification No.42/2019/F.No.300196/69/2018-ITA-I]
RAJARAJESWARI R., Under Secy.

Income Tax Notification No. 42/2019 PDF Format – Download Here