Notification of “Uttaranchal Board of Technical Education” for Exemption u/s 10(46)

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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.

Income Tax Notification PDF Format – Download Here

 

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