Central Government notifies ‘All India Council for Technical Education’, New Delhi, a Council established by the Central Government, in respect of the specified income arising to that council - 42/2019 - Income Tax

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. [F.No.300196/69/2018-ITA-I] RAJARAJESWARI R., Under Secy.