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The Central Government notifies specified income of the National Skill Development Corporation under section 10 clause 46 of the Income-tax Act 1961. The notification applies to financial years 2021-2022 to 2025-2026. Specified income includes Government grants, skill development grants, capital gains, dividends, royalties, accreditation and registration fees, scheme management fees, foreign skilling income, loan interest, and miscellaneous receipts. The Corporation must not engage in commercial activities. The activities and nature of specified income must remain unchanged throughout the financial years. The Corporation must file returns of income under section 139 sub-section 4C clause g.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 21st January, 2022
S.O. 294(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, National Skill Development Corporation, a body constituted by Central Government, in respect of the following specified income arising to that Corporation, namely:-
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