Date: 2017-03-31Category: Extra OrdinaryState: Union GovernmentCountry: India
Central Government hereby notifies for the purposes of the said clause the Science and Engineering Research Board a board constituted by Central Government
Executive Summary:
This notification, issued by the Central Board of Direct Taxes, grants an exemption under Section 10(46) of the Income-tax Act, 1961 to the Science and Engineering Research Board concerning specified income. The exemption applies retrospectively to financial years 2013-2014 through 2017-2018. The notification was issued on March 31, 2017.
Key Points / Main Content:
* **Exemption Notification:**
* The Central Government notifies the Science and Engineering Research Board for the purposes of clause 46 of section 10 of the Income-tax Act, 1961.
* **Specified Income:**
* Grants (revenue and capital) received from the Central Government.
* Interest received or accrued on bank accounts (savings or fixed deposits).
* Refunds of unspent amounts from institutions that previously received grants from the Science and Engineering Research Board.
* Other income, such as receipts as per the Right to Information Act, 2005, and scrap sales.
* **Conditions for Exemption:**
* The Science and Engineering Research Board must not engage in any commercial activity.
* The activities and the nature of the specified income must remain unchanged throughout the financial years.
* The Science and Engineering Research Board must file a return of income in accordance with clause (g) of subsection (4C) of section 139 of the Income-tax Act, 1961.
* **Effective Period:**
* The notification is deemed to have been applied for the financial years 2013-2014, 2014-2015, 2015-2016, 2016-2017 and 2017-2018.
Impact Analysis:
* Science and Engineering Research Board
* Impact: Exempt from income tax on specified income, as long as conditions are met.
* Action Required: Ensure compliance with conditions, including refraining from commercial activities, maintaining consistent activities and income nature, and filing income tax returns.
Key Entities Referenced
Income-tax Act, 1961: A law of India, specifically mentioned in the context of powers conferred for notifications and filing of income returns.
Central Board of Direct Taxes: A department under the Ministry of Finance responsible for the notification.
Ministry of Finance: The government ministry under which the Department of Revenue and Central Board of Direct Taxes operate.
Science and Engineering Research Board: A board constituted by the Central Government, the main subject of the notification, regarding specified income.
Right to Information Act, 2005: An act of the parliament of India which sets out the rules and procedures regarding freedom to information.
New Delhi: The location where the notification was issued.
Mayapuri, New Delhi: Location of the Government of India Press.
Delhi: Location of the Controller of Publications.
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EXTRAORDINARY
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PART II—Section 3—Sub-section (ii)
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No. 912] NEW DELHI, FRIDAY, MARCH 31, 2017/CHAITRA 10, 1939
िव(cid:7004)त म(cid:7074)ं ालय
(राज(cid:7021)व िवभाग)
(क(cid:7286)(cid:7076)ीय (cid:7079)(cid:7004)य (cid:6979) कर बोड(cid:6981))
अिधसचू ना
नई (cid:7408)द(cid:7016) ली, 31 माच(cid:6981), 2017
का.आ. 1024(अ).— आयकर अिधिनयम, 1961 (1961 का 43) क(cid:7409) धारा 10 के उपवा(cid:6989)य (46) के तहत (cid:7079)द(cid:7275) शि(cid:7334)य(cid:7298)
का (cid:7079)योग करते (cid:7263)ए क(cid:7286)(cid:7076) सरकार एतद(cid:7367)् ारा उ(cid:7334) उपवा(cid:6989)य के उ(cid:7374)(cid:7019)े य के िलए िव(cid:6980)ान एवं अिभयािं (cid:7074)क(cid:7409) अनुसंधान बोड,(cid:6981) जो(cid:7408)क क(cid:7286)(cid:7076)
सरकार (cid:7367)ारा ग(cid:7407)ठत बोड (cid:6981)ह,ै को इस बोड (cid:6981)को िन(cid:7388)िलिखत िविन(cid:7416)द(cid:7397) से होने वाले आय के संबंध म (cid:7286)अिधसूिचत करती ह,ै यथा:—
(क) क(cid:7286)(cid:7076) सरकार से (cid:7079)ा(cid:7385) होने वाला अनुदान (राज(cid:7021)व या पजूं ी)
(ख) ब(cid:7289)क(cid:7298) म(cid:7286) जमा से(cid:7410)वग या (cid:7408)फ(cid:6989)(cid:7021)ड िडपॉिजट से (cid:7079)ा(cid:7385) होने वाला (cid:7011)याज
(ग) उन सं(cid:7021)थान(cid:7298) से िबना खच(cid:6981) (cid:7263)ई वापस क(cid:7409) रािश िजसको (cid:7408)क इस िव(cid:6980)ान एवं अिभयांि(cid:7074)क(cid:7409) अनुसंधान बोड (cid:6981)ने पहल े
अनदु ान के (cid:7272)प म(cid:7286) (cid:7408)दया हो; और
(घ) अ(cid:7008)य आय जो(cid:7408)क सूचना का अिधकार अिधिनयम, 2005 (2005 का 22) के अंतगत(cid:6981) रसीद से (cid:7079)ा(cid:7385) रािश और
कवाड़ क(cid:7409) िब(cid:7059)(cid:7409) से (cid:7079)ा(cid:7385) आय के (cid:7272)प म(cid:7286)।
2. इस अिधसचू ना के (cid:7079)ावधान इस शत(cid:6981) के साथ लागू ह(cid:7298)गे (cid:7408)क िव(cid:6980)ान एवं अिभयांि(cid:7074)क(cid:7409) अनसु ंधान बोड,(cid:6981)-
(क) (cid:7408)कसी अ(cid:7008)य वािणि(cid:6996)यक (cid:7408)(cid:7059)याकलाप म(cid:7286) सलं (cid:7336) नह(cid:7277) होगा;
(ख) के (cid:7408)(cid:7059)याकलाप और इस तरह क(cid:7409) िविन(cid:7416)द(cid:7397) आय के (cid:7021)व(cid:7272)प म(cid:7286) परू े िव(cid:7275)ीय वष(cid:7300) म(cid:7286) कोई बदलाव नह(cid:7277) होगा; और
(ग) आयकर अिधिनयम, 1961 क(cid:7409) धारा 139 क(cid:7409) उपधारा (4ग) के उपवा(cid:6989)य (छ) के (cid:7079)ावधान(cid:7298) के अनसु ार अपना
आयकर (cid:7407)रटन(cid:6981) भरेगा।
1828 GI/2017 (1)
(cid:32)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
3. इस अिधसचू ना के िलए यह माना जाएगा (cid:7408)क यह िव(cid:7275)ीय वष (cid:6981) 2013-2014, 2014-2015, 2015-2016,
2016-2017 और 2017-2018 के िलए लागू (cid:7263)ई ह।ै
[अिधसूचना सं. 24/ 2017/फा. सं.196/15/2013-आईटीए-I]
दीपिशखा शमा,(cid:6981) िनदशे क
(cid:7021)प(cid:7397)ीकरण (cid:6980)ापन: यह (cid:7079)मािणत (cid:7408)कया जाता ह ै(cid:7408)क इस अिधसचू ना को भूतल(cid:6979)ी (cid:7079)भाव से लागू (cid:7408)कए जाने पर (cid:7408)कसी (cid:7390)ि(cid:7334) पर कोई
(cid:7079)ितकूल (cid:7079)भाव नह(cid:7277) पड़ रहा ह।ै
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 31st March, 2017
S.O. 1024(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 Science and Engineering
Research Board, a board constituted by Central Government, in respect of the following specified income arising to that
Board, namely:—
(a)(cid:32) grants (revenue and capital) received from Central Government;
(b)(cid:32) interest received or accrued on bank account either saving or on fixed deposits with banks;
(c)(cid:32) refund of unspent amount received back from the institutions to which Science and Engineering Research
Board had given a grant earlier; and
(d)(cid:32) other incomes like receipts as per the Right to Information Act, 2005 (22 of 2005) and scrap sale.
2. The provisions of this notification shall be effective subject to the conditions that the Science and Engineering
Research Board,—
(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 return 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 2013-2014, 2014-2015, 2015-2016,
2016-2017 and 2017-2018.
[Notification No. 24/2017/ F. No.196/15/2013-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.