U/s 10(46) of IT Act 1961 - Central Government notifies ‘National Council of Science Museums’, in respect of the specified income arising to the Council. - 85/2021 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 85/2021 New Delhi, the 4th August, 2021 S.O. 3138(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 Council of Science Museums , Kolkata (PAN AAAAN2541C), an autonomous body established under the Ministry of Culture, Government of India, in respect of the following specified income arising to the Council, namely:- (a) amount received in the form of grants-in-aid and subsidies from Government of India; (b) fees or subscription by sale of tickets; (c) charges for maintenance recovered for use of auditorium and other public facilities for scientific and educational purposes; and (d) Income arising or derived by way of interest received from investment. 2. This notification shall be effective subject to the conditions that National Council of Science Museums, Kolkata,- (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. (d) shall file the Audit report along with the Return, duly verified by the accountant as provided in explanation to section 288(2) of the Income-tax Act, 1961 along with a certificate from the chartered accountant that the above conditions are satisfied. 3. This notification shall apply with respect to the financial years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and 2025-2026. [F. No. 300196/1/2021-ITA-I] SOURABH JAIN, Under Secy.