U/s 10(46) of the Income-tax Act, 1961 Central Government notifies ‘Uttaranchal Board of Technical Education, a board constituted by the State Act Uttaranchal Board of Technical Education Act, 2003, in respect of the specified income arising to the said Board – 66/2018 – Income Tax
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 66/2018
New Delhi, the 8th October, 2018
S.O. 5180(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, ‘Uttaranchal Board of Technical Education, a board constituted by the State Act Uttaranchal Board of Technical Education Act, 2003, in respect of the following specified income arising to the said Board, namely:—
a) Grants/subsidies received from Government/government bodies;
b) Fees, Fines and Penalties collected as per the provisions of Uttaranchal Board of Technical Education Act, 2003;
c) Receipts from sale of printed application forms and educational Material;
d) Receipts from Disposal of assets and sale of Scrap;
e) Rent received from let out of properties;
f) Royalty or License Fees for providing technical knowledge and infrastructure;
g) Interest earned on (a) to (f) above.
2. This notification shall be effective subject to the conditions that Uttaranchal Board of Technical Education –
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 the assessment year 2018-19 and shall apply with respect to the assessment years 2019-20, 2020-21, 2021-22 and 2022-23.
[Notification No. 66 /2018, F.No.300196/32/2018-ITA-I]
VINAY SHEEL GAUTAM, Under Secy.
Explanatory Memorandum:-It is certified that no person is being adversely affected by giving retrospective effect to this notification.
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