Notification No. 42/2019- Central Government notifies ‘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 under section 10(46) of Income Tax Act, 1961.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 42/2019
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:-
(a) Grants/subsidies received from the Government/ Govt. bodies;
(b) Regulatory Charges;
(c) RTI fee and Examination fee;
(d) CMAT/GPAT fee;
(e) Receipts from sale of forms, materials and tender fee;
(f) Receipts from disposal of scrap; and
(g) Interest earned on (a) to (f) above.
2. This notification shall be effective subject to the conditions that All India Council for Technical Education, New Delhi-
(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.
3. This notification shall apply with respect to the assessment year 2019-2020, 2020-2021, 2021-2022, 2022-2023 and 2023-2024.
[Notification No. 42/2019/F.No.300196/69/2018-ITA-I]
RAJARAJESWARI R., Under Secy.
