CBDTNotificationNotification No. 16/201616 Mar 2016

National Biodiversity Authority Income Tax Exemption Notification

Deadline: 31 Mar 2012 · 5331 days ago · Period end date
Who: National Biodiversity Authority
Action: The National Biodiversity Authority files return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the said Act.

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What changed

The Central Government notifies the National Biodiversity Authority for the purpose of clause (46) of section 10 of the Income-tax Act, 1961 in respect of specified income. The specified income includes grant-in-aid from the Government of India, interest, benefit sharing fee, royalty, penalty, and application fees. The National Biodiversity Authority does not engage in any commercial activity. The activities and the nature of the specified income remain unchanged throughout the financial years. The National Biodiversity Authority files a return of income in accordance with section 139 sub-section (4C) clause (g) of the Act. This notification applies for the period from 01.06.2011 to 31.03.2012, financial years 2012-13, 2013-14, 2014-15, and the financial year 2015-2016.

What you must do

The National Biodiversity Authority files return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the said Act.

Key dates

Period start date: 01 Jun 2011
Period end date: 31 Mar 2012

Who is affected

National Biodiversity Authority

Exceptions

The National Biodiversity Authority shall not engage in any commercial activity.

Ask about this notification

Written automatically from the official document. It is not a professional review, so check material decisions against the official record.

Document text

Prepared for reading; wording retained from the source.

Official source

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 16th March, 2016

S.O. 1138(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 Biodiversity Authority” an authority established under the Biological Diversity Act, 2002 (18 of 2003) in respect of the following specified income arising to that Authority, namely:—

(a) amount received in the form of grant-in-aid from the Government of India;
(b) amount received in the form of interest;
(c) benefit sharing fee and royalty received;
(d) amount received in the form of penalty and application fees.

This notification shall be effective subject to the following conditions, namely:—

(a) the National Biodiversity Authority shall not engage in any commercial activity;
(b) the activities and the nature of the specified income of the National Biodiversity Authority shall remain unchanged throughout the financial years; and
(c) the National Biodiversity Authority shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the said Act.

This notification shall be deemed to apply for the period 01.06.2011 to 31.03.2012 and financial years 2012-13, 2013-14, 2014-15 and shall apply with respect to the financial year 2015-2016.

[Notification No. 16 /2016, F. No. 196/28/2012-ITA-I] DEEPSHIKHA SHARMA, Director

Source details

Official title: notification no. 16 /2016 f. no. 196/28/2012 ita i / so 1138 e
Source: Central Board of Direct Taxes / Income Tax Department
Type: notification
Published by source: 16 Mar 2016
Document number: Notification No. 16/2016
Issuing division: Central Board of Direct Taxes
Coverage area: direct-tax

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National Biodiversity Authority Income Tax Exemption Notification

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