**Policy Summary:**
This notification, S.O. 3868(E), issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, on December 12, 2017, grants an exemption under clause (46) of Section 10 of the Income-tax Act, 1961 to the Manipur State Rural Road Development Agency. The exemption applies to specific income sources, namely: (a) funds received for the Pradhan Mantri Gram Sadak Yojana (PMGSY) from the Ministry of Rural Development, Government of India; and (b) interest earned on those funds from banks.
The notification is subject to the conditions that the Manipur State Rural Road Development Agency: (a) does not engage in any commercial activity; (b) maintains the specified income's nature and activities throughout the financial years; and (c) files income tax returns as per clause (g) of subsection (4C) of section 139 of the Income-tax Act, 1961.
This notification is deemed to have been applied for the financial years 2015-2016 and 2016-2017, and shall apply with respect to the financial years 2017-2018, 2018-2019 and 2019-2020.
The notification number is 97/2017, and the file number is F. No. 300196/82016-ITAI. The Under Secretary, Vinay Sheel Gautam, issued the notification.
Key Entities Referenced
Income-tax Act, 1961: A law of India, specifically mentioned in the context of clause 46 of section 10 and section 139.
Central Board of Direct Taxes: An organization under the Department of Revenue, Ministry of Finance.
Ministry of Finance: A ministry of the Government of India.
Manipur State Rural Road Development Agency: A body established by the Government of Manipur.
Government of Manipur: The state government of Manipur, India.
PMGSY: Pradhan Mantri Gram Sadak Yojana, a rural road development program, fund received from Ministry of Rural Development
Ministry of Rural Development: A ministry of the Government of India providing funds for PMGSY.
New Delhi: Location where the notification was issued.
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EXTRAORDINARY
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PART II—Section 3—Sub-section (ii)
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PUBLISHED BY AUTHORITY
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No. 3392] NEW DELHI, TUESDAY, DECEMBER 12, 2017/AGRAHAYANA 21, 1939
ििििवववव(cid:3)(cid:3)(cid:3)(cid:3)तत तत मममम(cid:8)(cid:8)(cid:8)(cid:8)ंंंं ााााललललयययय
((((ररररााााजजजज(cid:4)(cid:4)(cid:4)(cid:4)वव वव ििििववववभभभभाााागगगग))))
((((कककक(cid:8)(cid:8)(cid:8)(cid:8)(cid:9)(cid:9)(cid:9)(cid:9)ीीीीयययय (cid:12)(cid:12)(cid:12)(cid:12)(cid:13)(cid:13)(cid:13)(cid:13)यययय(cid:14)(cid:14)(cid:14)(cid:14) ककककरररर बबबबोोोोडडडड))(cid:18)(cid:18)))(cid:18)(cid:18)
अअअअििििधधधधससससूचूचूचूचननननाााा
नई (cid:4)द(cid:6)ली, 12 (cid:4)दस(cid:10)बर, 2017
ककककाााा....आआआआ.... 3333888866668888((((अअअअ))))....———— क(cid:14)(cid:15) सरकार, आयकर अिधिनयम, 1961 (1961 का 43) क(cid:16) धारा 10 के खंड (46) (cid:19)ारा (cid:20)द(cid:21) शि(cid:24)य(cid:26)
का (cid:20)योग करते (cid:31)ए, उ(cid:24) खंड के (cid:20)योजन(cid:26) के िलए मिणपुर सरकार (cid:19)ारा ग*ठत िनकाय, “मिणपुर रा,य -ामीण सड़क िवकास अिभकरण”
को, उसे होने वाली िन3 िविश4 आय के संबंध म(cid:14) एतत(cid:19)ारा अिधसूिचत करती ह,ै यथा:-
(क) -ामीण िवकास मं9ालय, भारत सरकार पी एम जी एस वाई के िलए (cid:20)ा: िनिध ; और
(ख) उपयु;(cid:24) िनिध पर ब<क से (cid:20)ा: =याज।
2. यह अिधसूचना इस शत; पर लागू होगी (cid:4)क मिणपुर रा,य -ामीण सड़क िवकास अिभकरण;-
(क) (cid:4)कसी अ@य वािणि,यक गितिविध म(cid:14) शािमल नहA होगा;
(ख) पूरे िव(cid:21)ीय वष; म(cid:14) िविनCद4; आय क(cid:16) (cid:20)कृित व गितिविध अप*रवत;नीय रहगे ी; और
(ग) यह आयकर अिधिनयम, 1961 क(cid:16) धारा 139 क(cid:16) उपधारा (4ग) के खंड (च) के (cid:20)ावधान(cid:26) के अनुसार आयकर
िववरणी दािखल करेगा।
3. यह अिधसूचना िव(cid:21) वष; 2015-2016, 2016-2017 पर लागू (cid:31)ई समझी जाएगी और िव(cid:21) वष; 2017-2018, 2018-2019
और 2019-2020 के संबंध म(cid:14) लागू होगी।
[अिधसूचना सं. 97 /2017 / फा.सं. 300196/8/2016-आईटीए-I]
िवनय शील गौतम, अवर सिचव
(cid:20)(cid:20)(cid:20)(cid:20)ाााा(cid:21)(cid:21)(cid:21)(cid:21)ययययाााा(cid:13)(cid:13)(cid:13)(cid:13)ममममकककक (cid:23)(cid:23)(cid:23)(cid:23)ाााापपपपननननःःःः यह (cid:20)मािणत (cid:4)कया जाता ह ै (cid:4)क इस अिधसूचना के भूतलHी (cid:20)भाव से लागू (cid:4)कए जाने से कोई भी Iि(cid:24) (cid:20)ितकूल
Jप से (cid:20)भािवत नहA होगा।
7141 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 12th December, 2017
S.O. 3868(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, ‘Manipur State Rural Road
Development Agency’, a body established by Government of Manipur, in respect of the following specified income
arising to the body, namely:-
a) fund received for PMGSY from Ministry of Rural Development, Government of India; and
b) interest received from Bank on above fund.
2. This notification shall be effective subject to the conditions that Manipur State Rural Road Development
Agency,-
(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 be deemed to have been applied for the financial years 2015-2016, 2016-2017 and shall
apply with respect to the financial years 2017-2018, 2018-2019 and 2019-2020.
[Notification No. 97 /2017/ F. No. 300196/8/2016-ITA-I]
VINAY SHEEL GAUTAM, Under Secy.
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.