Date: 2017-04-28Category: Extra OrdinaryState: Union GovernmentCountry: India
Central Government hereby notifies for the purposes of the said clause the National Skill Development Agency a body constituted by the Central Government
**Policy Summary:**
This notification, S.O. 1361(E), issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes on April 28, 2017, grants an exemption under clause (46) of Section 10 of the Income-tax Act, 1961 to the National Skill Development Agency (NSDA). The exemption applies to the following specified income of the NSDA: (i) grant-in-aid from the Government of India; and (ii) interest earned on grant-in-aid from the Government of India.
The notification is subject to the following conditions: (a) the NSDA shall not engage in any commercial activity; (b) the activities and the nature of the specified income remain unchanged throughout the financial years; and (c) the NSDA shall file returns of income in accordance with the provision of clause (g) of sub-section (4C) of Section 139 of the Income-tax Act, 1961.
This notification is deemed to have been applied retrospectively for the financial years 2014-2015, 2015-2016, and 2016-2017, and shall be applicable for the financial years 2017-2018 and 2018-2019.
The notification number is 33/2017 [F.No. 196/15/2015-ITA-I]. The Director, Deepshikha Sharma, issued the notification.
Key Entities Referenced
Income-tax Act, 1961: A tax law in India, specifically section 10, clause 46 and section 139 mentioned in the notification.
National Skill Development Agency: A body constituted by the Central Government, which is the recipient of the notified income tax exemption.
Ministry of Finance: The ministry under which the Department of Revenue and Central Board of Direct Taxes operate.
Department of Revenue: A department within the Ministry of Finance.
Central Board of Direct Taxes: The issuing authority for the notification related to income tax.
New Delhi: Location of Notification by Central Board of Direct Taxes.
Government of India: The entity providing grant-in-aid to the National Skill Development Agency.
Deepshikha Sharma: Director who signed the notification.
REGD. NO. D. L.-33004/99
EXTRAORDINARY
II— — (ii)
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
1201]
No. 1201] NEW DELHI, FRIDAY, APRIL 28, 2017/VAISAKHA 8, 1939
वित्त म्त रालयय
(ररालजस्ि विभराल )
)प्रर्ोबयकत्ययप्ररबद्रेंक(
अवधसचू नराल
नईददल्यब, 28 अकैय, 2017
प्रराल.आ. 1361(अ).—आयप्ररअवधवनयम, 1961 (1961 प्रराल 43) प्रीधरालरराल 10 प्ररालउप-िरालक्य (46) प्रेतहतकदत्तशवियोंप्रराल
कयद्र प्ररतेहुए, एतद्द्वरालररालउक्तउपिरालक्यप्रेउद्देश्यप्रेवयएररालष्ट्रबयप्रौशयविप्ररालसएजर्सब,प्रेन्द्ोसरप्ररालरद्वरालरराल ठितएप्रवनप्ररालयप्रद्र
उिवनप्ररालयोंसेकरालअहद्रनेिरालयबविवनआदष्टआयप्रेसतबतधमर्अवधसूवचतप्ररतबहै :—
(प्र) सरप्ररालरबअनुदरालनोंप्रेरूपमर्करालअररालवश; और
(ख) भरालरतसरप्ररालरसेसहरालयतरालअनुदरालनप्रेरुपमर्करालप्त ररालवशपरकरालअब्यरालज।
2. यहअवधसूचनरालवनम्नवयवखतशतोंप्रेसरालथयराल ूहद्र बदप्रररालष्ट्रबयप्रौशयविप्ररालसएजर्सब;
(प्र) दप्रसबभबिरालविवययप्रदियरालप्रयरालपमर्सतय ्ननहींहद्र राल;
(ख) इसप्रेदियरालप्रयरालपइसप्रद्रहद्रनेिरालयबविशेषआयप्रेस्रद्रतमर्पूरेवित्तबयिषोंमर्प्रद्रईपठरितकननहींहद्र राल
( ) उक्तअवधवनयमप्रीधरालरराल 139 प्रीउपधरालरराल (4 ) प्रेउपिरालक्य (छ) प्रेकरालिधरालनोंप्रेअनुसरालरअपनरालआयप्ररठरटनकभरराल
प्ररे राल।
3. इसअवधसूचनरालप्रद्रवित्तबयिषक2014-2015,2015-16,2016-17तप्रप्रीअिवधप्रेवयएयराल ूदप्रयराल यरालमरालनरालजरालए रालऔरयह
वित्तबयिषक,2017-18और2018-19प्रेवयएभबयराल ूहद्र ब।
[अवधसूचनरालस.त33/2017/फराल.सत. 196/15/2015-आईटबए-I]
दबपवशखरालशमराल,कवनदशे प्र
स्पष्टबप्ररिज्ञरालपन: यहकमरालवितदप्रयरालजरालतरालहै दप्रइसअवधसूचनरालप्रद्रभूतययबकभरालिसेयराल ूदप्रएजरालनेपरदप्रसबव्यविपरप्रद्रई
कवतप्रूयकभरालिनहींपड़रहरालहै।
2833 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
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.
[Notification No. 33/2017/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.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.