Central Government hereby notifies for exemption U/s. 10(46) ‘Himachal Pradesh Kaushal Vikas Nigam’, Shimla, a body constituted by the Government of Gujarat vide Notification No. 92/2018 Dated : 28th December, 2018.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES
NOTIFICATION No. 92/2018
New Delhi, the 28th December, 2018
S.O. 6357(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, ‘Himachal Pradesh Kaushal Vikas Nigam’, Shimla, a body set up by the Government of Himachal Pradesh, in respect of the following specified income arising to that body, namely:-
(a) amount received in the form of grants-in-aid and subsidies from Government of India, Government of Himachal Pradesh and other Government/semi-Government agencies;
(b) fees or subscription for carrying out training activities; and
(c) interest earned on (a) and (b) above.
2. This notification shall be effective subject to the conditions that Himachal Pradesh Kaushal Vikas Nigam, Shimla –
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income shall remain unchanged throughout the assessment 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 be deemed to apply for the assessment years 2017-2018 and 2018-2019 shall apply with respect to the assessment years 2019-2020, 2020-2021 and 2021-2022.
[Notification No. 92/2018/F.No. 300196/33/2016-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.
