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The Central Government notifies the Central Registry for Securitization Asset Reconstruction and Security Interest of India under clause 46 of section 10 of the Income-tax Act, 1961. The notification applies to specified income from fee, interest, and application sources. The body must not engage in any commercial activity. The activities and the nature of the specified income must remain unchanged throughout the financial years. The body must file a return of income under section 139 of the Income-tax Act, 1961. The notification applies to the financial years 2013-2014, 2014-2015, 2015-2016, 2016-2017, and 2017-2018.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 18th January, 2018
S.O. 283(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 Central Registry for Securitization Asset Reconstruction and Security Interest of India, a body set up under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, in respect of the following specified income arising to that body, namely:—
fee income from Security Interest transactions;
fee income from transactions on Central KYC (CKYC) Records Registry;
interest income on fixed deposits and on saving bank account; and
RTI application fee.
This notification shall be effective subject to the conditions that Central Registry for Securitization Asset Reconstruction and Security Interest of India,—
(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.
[Notification No. 3/2018/F. No. 196/29/2013-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.
