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The Central Government notifies specified income of the Maharashtra State Board of Technical Education under clause (46) of section 10 of the Income-tax Act, 1961. The notification applies to specific income sources that include fees, fines, penalties, educational material receipts, scrap receipts, government body receipts, interest income, rent, royalty or license fees, dividend earnings, and capital gains. The Board must not engage in any commercial activity. The activities and nature of the specified income must remain unchanged throughout the financial years. The Board files a return of income under clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961. The notification applies for the financial year 2014-2015 through the financial year 2018-2019.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 29th March, 2016
S.O. 1251(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, the Maharashtra State Board of Technical Education, a Board constituted under the Maharashtra State Board of Technical Education Act, 1997, of the Government of Maharashtra, in respect of the following specified income arising to that Board, namely:—
[Notification No. 23/2016/F.No.196/13/2015-ITA-I] DEEPSHIKHA SHARMA, Director
