Section 10(46) of the Income-tax Act, 1961 - Exemptions - Statutory Body/Authority/Board/Commission - Notified body or authority - National Skill Development Corporation. - 11/2012 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification no. 11/2012 DATED 28-2-2012 S.O. 343(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 Corporation, a body constituted by the Central Government, in respect of the specified income arising to the said Corporation , as follows:- ( a ) long-term or short-term capital gain out of investment in an organisation for skill development; ( b ) dividend and royalty from skill development venture supported or funded by National Skill Development Corporation; ( c ) interest on loans to Institutions for skill development; ( d ) interest earned on fixed deposits with banks; and ( e ) amount received in the form of Government grants. 2. This Notification shall be applicable for the specified income of the National Skill Development Corporation for the financial year 2011-12 to financial year 2015-16. 3. This notification shall be effective where- ( i ) the activities and the nature of the specified income of the National Skill Development Corporation remain unchanged throughout the financial year; and ( ii ) the National Skill Development Corporation files return of income in accordance with clause ( g ) of sub-section (4C) section 139 of the Act. [F.NO.142/15/2011-SO (TPL)] VIVEK ANAND OJHA, Under Secy.