This notification, S.O. 3674(E), issued by the Ministry of Finance's Department of Revenue, Central Board of Direct Taxes on December 7, 2016, notifies the Petroleum and Natural Gas Regulatory Board (PNGRB) for the purpose of clause 46 of section 10 of the Income-tax Act, 1961.
The specified incomes arising to the PNGRB that are covered under this notification include:
* Grants received from the Central Government.
* All other grants, fees, and penalty charges received.
* All sums received from other sources as approved by the Central Government, as per section 38 and 39 of the Petroleum and Natural Gas Regulatory Board Act, 2006.
* Interest earned on deposits.
This notification is applicable for the assessment years 2014-15, 2015-16, 2016-17, 2017-18, and 2018-19.
The notification is subject to the following conditions:
* The PNGRB shall not engage in any commercial activity.
* Its activities and the nature of the specified income must remain unchanged throughout the financial year.
* It must file a return of income in accordance with the provision of clause (g) of subsection (4C) of Section 139 of the Income-tax Act, 1961.
The notification number is 112/2016 and the F. No. is 196/192/2013-IT(AI). The Director, Deepshikha Sharma, is listed as the contact.
Key Entities Referenced
Income-tax Act, 1961: A tax law in India that forms the basis of income tax assessment and collection.
Central Board of Direct Taxes: A government body under the Department of Revenue, Ministry of Finance, responsible for the administration and enforcement of direct tax laws in India.
Petroleum and Natural Gas Regulatory Board: A board constituted by the Government of India to regulate the petroleum and natural gas sector.
Ministry of Finance: A ministry in the Government of India responsible for the country's finances.
New Delhi: The capital of India, where the notification was issued.
Petroleum and Natural Gas Regulatory Board Act, 2006: An act of Indian parliament that provides for the establishment of the Petroleum and Natural Gas Regulatory Board.
DEEPSHIKHA SHARMA: Director who issued the notification.
Mayapuri, New Delhi: Location of Government of India Press.
jftLVªh laö Mhö ,yö&33004@99 REGD. NO. D. L.-33004/99
vlk/kj.k
EXTRAORDINARY
Hkkx II—[k.M 3—mi&[k.M (ii)
PART II—Section 3—Sub-section (ii)
izkf/dkj ls izdkf'kr
PUBLISHED BY AUTHORITY
la- 2886] ubZ fnYyh] cq/okj] fnlEcj 7] 2016@vxzgk;.k 16] 1938
No. 2886] NEW DELHI, WEDNESDAY DECEMBER 7, 2016/AGRAHAYANA 16, 1938
िव(cid:7275) 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, 7 (cid:7408)दस(cid:7013)ब र, 2016
का.आ. 3674(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 करत े (cid:7263)ए क(cid:7286)(cid:7076) सरकार एतद(cid:7367)् ारा “पे(cid:7069)ािलयम एवं (cid:7079)ाकृितक गैस िविनयामक बोड”(cid:6981) को उ(cid:7334) उपवा(cid:6989)य के
(cid:7079)योजन के िलए तथा इस बोड (cid:6981) को होन े वाली िन(cid:7388)िलिखत िविन(cid:7416)द(cid:7397) आय के सबं ंध म (cid:7286) भारत सरकार (cid:7367)ारा ग(cid:7407)ठत एक बोड (cid:6981)के
(cid:7272)प म (cid:7286)अिधसिू चत करती ह ैयथा:—
(i) क(cid:7286)(cid:7076) सरकार स े(cid:7079)ा(cid:7385) अनुदान।
(ii) (cid:7079)ा(cid:7385) अ(cid:7008)य अनुदान, शु(cid:7016)क, दडं (cid:7079)भार।
(iii) ऐसे अ(cid:7008)य (cid:7090)ोत(cid:7298) स े (cid:7079)ा(cid:7385) कुल रािश िजसे क(cid:7286)(cid:7076) सरकार पे(cid:7069)ोिलयम एवं (cid:7079)ाकृितक गैस िविनयामक बोड (cid:6981)
अिधिनयम, 2006 क(cid:7409) धारा 38 और 39 के अनसु ार अनमु ो(cid:7408)दत करे: और
(iv) जमा पर अ(cid:7414)जत (cid:7011)याज।
2. यह अिधसूचना आकं लन वष(cid:6981) 2014-15, 2015-16, 2016-17, 2017-18 और 2018-19 के िलए लागू होगी।
3. यह अिधसूचना इस शत(cid:6981) के साथ लाग ूहोगी (cid:7408)क पे(cid:7069)ोिलयम एवं (cid:7079)ाकृितक गैस िविनयामक बोड-(cid:6981)
(क) (cid:7408)कसी वािणि(cid:6996)यक (cid:7408)(cid:7059)याकलाप(cid:7298) म (cid:7286)सिं ल(cid:7385) नह(cid:7277) होगा।
(ख) इसके (cid:7408)(cid:7059)याकलाप और िविन(cid:7416)द(cid:7397) आय क(cid:7409) (cid:7079)कृित म(cid:7286) पूरे िवि(cid:7275)य वष(cid:6981) के दौरान कोई प(cid:7407)रवत(cid:6981)न नह(cid:7277) होगा और
(ग) उ(cid:7334) अिधिनयम क(cid:7409) धारा 139 क(cid:7409) उपधारा (4ग) के उपवा(cid:6989)य (छ) के अनसु ार अपना आयकर (cid:7407)रटन(cid:6981) भरता
रहगे ा।
[अिधसूचना स.ं 112/2016/फा०स०ं 196/19/2013-आईटीए-I)]
दीपिशखा शमा,(cid:6981) िनदशे क
5638 GI/2016 (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 7th December, 2016
S.O. 3674(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 purpose of the said clause,
“Petroleum and Natural Gas Regulatory Board”, a Board constituted by the Government of India, in
respect of the following specified income arising to that Board, namely :—
(i) Grant received from Central Government
(ii) All other grants, fees, penalty charges received
(iii) All sums received from such other sources as may be approved by the Central Government as
per section 38 and 39 of the Petroleum and Natural Gas Regulatory Board Act. 2006 and
(iv) Interest earned on deposits
2. This notification shall be applicable for the assessment year 2014-15, 2015-16, 2016-17, 2017-18 and
2018-19.
3. The notification shall be subject to the conditions that Petroleum and Natural Gas Regulatory Board:-
(a) Shall not engage in any commercial activity;
(b) its activities and the nature of the specified income remain unchanged throughout the financial
year; and
(c) it files return of income in accordance with the provision of clause (g) of sub-section (4C) of
Section 139 of the said Act.
[Notification No. 112 /2016/F. No.196/19/2013-ITA-I)]
DEEPSHIKHA SHARMA, Director
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.(cid:32)