CBDTNotificationNotification No. 68 /2017/F. No. 300196/01/2017-ITA-I20 Jul 2017

National Biodiversity Authority Income Tax Exemption Notification

Who: National Biodiversity Authority, Chennai
Action: 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.

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What changed

The Central Government notifies the National Biodiversity Authority, Chennai under clause (46) of section 10 of the Income-tax Act, 1961 for specified income. The specified income includes grants, benefit sharing fees, royalties, application fees, interest, and penalties. The Authority must not engage in any commercial activity. The activities and the nature of the specified income must remain unchanged throughout the financial years. The Authority must file a return of income under section 139. This notification applies to the financial years 2016-2017, 2017-2018, 2018-2019, 2019-2020, and 2020-2021.

What you must do

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.

Key dates

Financial year 2016-2017 application: Not dated
Financial years 2017-2021 application: Not dated

Law this touches

Who is affected

National Biodiversity Authority, Chennai

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 20th July, 2017

S.O. 2279(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’, Chennai, 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 Government of India;
(b) benefit sharing fee and royalty received;
(c) amount received in form of Application fee;
(d) amount received in form of Interest; and
(e) amount received in form of Penalty.

This notification shall be effective subject to the conditions that National Biodiversity Authority, Chennai,—

(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.

This notification shall be deemed to have been applied for the financial year 2016-2017 and shall apply with respect to the financial years 2017-2018, 2018-2019, 2019-2020 and 2020-2021.

[Notification No. 68 /2017/F. No. 300196/01/2017-ITA-I] DEEPSHIKHA SHARMA, Director

Explanatory Memorandum : It is certified that no person is being adversely affected by giving retrospective effect to this notification.

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.

ALOK KUMAR Digitally signed by ALOK KUMAR Date: 2017.07.24 12:31:10 +05'30'

Source details

Official title: notification no. 68 /2017 f. no. 300196/01/2017 ita i / so 2279 e
Source: Central Board of Direct Taxes / Income Tax Department
Type: notification
Published by source: 20 Jul 2017
Document number: Notification No. 68 /2017/F. No. 300196/01/2017-ITA-I
Issuing division: Central Board of Direct Taxes
Coverage area: direct-tax

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