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The Central Government notifies specified income of the Central Board of Secondary Education for income tax exemption under section 10 of the Income-tax Act, 1961. The exemption applies to examination fees, affiliation fees, book sales, academic receipts, project receipts, tax refund interest, and related interest income. The board must not engage in commercial activity, must keep its activities unchanged, and must file returns of income. The notification applies retrospectively for financial years 2020-2021 through 2022-2023 and prospectively for financial years 2023-2024 and 2024-2025.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 10th April, 2023
S.O. 1690(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, ‘Central Board of Secondary Education’, Delhi (PAN AAAAC8859Q), a Board constituted by the Central Government, in respect of the following specified income arising to that Board, namely:
[Notification No. 20/2023 F.No.196/19/2014-ITA-I]
SOURABH JAIN, Under Secy.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
