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The Central Government notifies specific income of the National Skill Development Corporation under section 10 clause 46 of the Income-tax Act, 1961. The specified income includes long-term capital gain, dividend and royalty, interest on loans, interest on fixed deposits, and Government grants. This exemption applies subject to the conditions that the Corporation does not engage in commercial activity, its activities and income nature remain unchanged, and it files return of income under section 139 sub-section 4C clause g. The notification applies with respect to the Financial Years 2016-17, 2017-18, 2018-19, 2019-20 and 2020-21.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 17th August, 2016.
S.O. 2726(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 Skill Development Corporation, a body constituted by Central Government, in respect of the following specified income arising to that Corporation, namely:-
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. RAJ KUMAR Digitally signed by RAJ KUMAR Date: 2016.08.19 12:48:05 +05'30'
