Section 10(46) of the Income-tax Act, 1961 Central Government notifies National Skill Development Agency, a body constituted by the Central Government in respect of the specified income arising to that body - 33/2017 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 33/2017 New Delhi, the 28th April, 2017 S.O. 1361(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, the National Skill Development Agency, a body constituted by the Central Government in respect of the following specified income arising to that body, as follows:- i) grant-in-aid from Government of India; and ii) interest earned on grant-in-aid from Government of India. 2. This notification shall be effective subject to the conditions that National Skill Development Agency, - (a) shall not engage in any commercial activity; (b) activities and the nature of the specified income remain unchanged throughout the financial years; and (c) shall file returns of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the Income-tax Act, 1961. 3. This notification shall deemed to have been applied for the financial years 2014-2015, 2015-2016, 2016-2017 and shall be applicable for the financial years 2017-2018 and 2018-2019. [F.No. 196/15/2015-ITA-I] DEEPSHIKHA SHARMA, Director Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective effect to this notification.