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The Central Government notifies specified income of the All India Council for Technical Education for income tax exemption under section 10 clause 46 of the Income-tax Act 1961. The exemption applies to grants, regulatory charges, examination fees, test fees, form sales, scrap disposal, and related interest. The council must not engage in commercial activity. The council must keep activities and income unchanged. The council must file a return of income under section 139 sub-section 4C clause g. The notification applies to assessment years 2019-2020 through 2023-2024.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 23rd May, 2019
S.O. 1801(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, ‘All India Council for Technical Education’, New Delhi, a Council established by the Central Government, in respect of the following specified income arising to that council, namely:-
[Notification No. 42/2019/F.No.300196/69/2018-ITA-I] RAJARAJESWARI R., Under Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054
