Executive Summary:
This notification, issued by the Central Board of Direct Taxes, notifies the Central Silk Board, Bengaluru, under Section 10(46) of the Income-tax Act, 1961. It specifies the income of the Board that is exempt from income tax. This notification is applicable for the assessment years 2019-2020 through 2023-2024.
Key Points / Main Content:
* **Exemption Notification:**
* Central Silk Board, Bengaluru, is notified under Section 10(46) of the Income-tax Act, 1961.
* **Specified Income:** The following income of the Central Silk Board is covered:
* Grants/Funds from Centre/State/NGO or any other Statutory body.
* Compensation from the sale/disposal/auction/acquisition of movable and immovable properties.
* Royalty or any other income from patented technologies and intellectual property rights.
* Penalties and Levies collected under Government Statutes.
* Fees/charges received for services as per the Central Silk Board Act, 1948 (as amended).
* Interest earned on the income sources above.
* **Conditions for Exemption:**
* The Central Silk Board shall not engage in any commercial activity.
* The activities and the nature of the specified income shall remain unchanged throughout the financial years.
* The Central Silk Board shall file a return of income as per section 139(4C)(g) of the Income-tax Act, 1961.
* **Applicability:**
* This notification applies to the assessment years 2019-2020, 2020-2021, 2021-2022, 2022-2023 and 2023-2024.
Impact Analysis:
Central Silk Board, Bengaluru:
* Impact: The Central Silk Board's specified income is exempt from income tax, provided the conditions are met.
* Action Required: Ensure no engagement in commercial activity, maintain the nature of specified income, and file income tax returns as per section 139(4C)(g) of the Income-tax Act, 1961.
Central Government/CBDT:
* Impact: Implementation and monitoring of the conditions for income tax exemption granted to the Central Silk Board.
* Action Required: Ensure compliance by the Central Silk Board with the specified conditions for the duration of the notification's applicability.
Key Entities Referenced
Central Silk Board: A Board constituted by the Central Government of India.
Bengaluru, Karnataka: The location of the Central Silk Board.
Income-tax Act, 1961: Indian Legislation under which the notification is issued.
Central Silk Board Act, 1948: Indian Legislation related to the Central Silk Board.
Central Silk Board Amendment Act, 2006: Amendment to the Central Silk Board Act, 1948
Central Silk Board Rules, 1955: Rules related to the Central Silk Board
Central Silk Board Amendment Rules, 2015: Amendment to the Central Silk Board Rules, 1955
Ministry of Finance, Department of Revenue, Central Board of Direct Taxes: The Government Ministry and Department issuing the notification.
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EXTRAORDINARY
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PART II—Section 3—Sub-section (ii)
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((((ररररााााजजजज(cid:4)(cid:4)(cid:4)(cid:4)वववव ििििववववभभभभाााागगगग))))
(क(cid:3)(cid:4)ीय (cid:8)(cid:9)य(cid:10) कर बोड)(cid:15)
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:19)द(cid:21) ली, 20 जून, 2019
ककककाााा.... आआआआ....2222000000005555((((अअअअ))))....————के(cid:3)(cid:5) सरकार आयकर अिधिनयम, 1961 (1961 का 43) क(cid:6) धारा 10 के खंड (46) (cid:10)ारा (cid:11)द(cid:13)
शि(cid:16)य(cid:18) का (cid:11)योग करते (cid:22)ए, एतद(cid:10)ारा के(cid:3) (cid:5) सरकार (cid:10)ारा ग(cid:25)ठत बोड (cid:29) ‘के(cid:3) (cid:5)ीय रेशम बोड’(cid:29) , (से(cid:3) ल िस"क
बोड)(cid:29) , बंगलु&, (पैन: एएएएलसी0093एम) को उ( त ख* ड के (cid:11)योजनाथ (cid:29) उस बोड (cid:29) को होने वाली िन0 निलिखत िविन1द2ट
आय के संबंध म5 अिधसूिचत करती ह,ै िजसका :यौरा िन<िलिखत ह:ै—
(क) के(cid:3)(cid:5) ीय रेशम बोड (cid:29) (से(cid:3) ल िस"क बोड)(cid:29) (cid:10)ारा के(cid:3) (cid:5)/रा@ य/गैर सरकारी संगठन(एनजीओ) या Bकसी अ(cid:3)य सािं विधक
िनकाय से (cid:11)ाCत अनुदान/िनिधया;ं
(ख) के(cid:3)(cid:5) ीय रेशम बोड((cid:29) से(cid:3) ल िस"क बोड)(cid:29) क(cid:6) चल और अचल स0 पि(cid:13)य(cid:18) क(cid:6) िबF(cid:6), िनपटान, नीलामी या अिधGहण के
कारण (cid:11)ाCत मुआवजा;
(ग) के(cid:3)(cid:5) ीय रेशम बोड((cid:29) से(cid:3) ल िस"क बोड)(cid:29) के I वािमJ व वाली (cid:11)ौKोिगक(cid:6)(टे( नॉलाजी) पेट5ट और बौिMक स0 पदा
अिधकार(cid:18) के िलए (cid:11)ाCत राय"ट ी या अ(cid:3) य कोई आय;
(घ) सरकारी सिं विधय(cid:18) के तहत एकिNत शािIतया ंऔर उOहण(लेवी);
2955 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(ड.) के(cid:3)(cid:5) ीय रेशम बोड((cid:29) संशोधन) अिधिनयम, 2006 (2006 का 42) (cid:10)ारा यथा संशोिधत के(cid:3) (cid:5)ीय रेशम बोड (cid:29)
अिधिनयम, 1948(1948 का LXI) और के(cid:3) (cid:5)ीय रेशम बोड((cid:29) संशोधन) िनयमावली, 2015 (cid:10)ारा यथा संशोिधत
के(cid:3)(cid:5) ीय रेशम बोड (cid:29) िनयमावली, 1955 के (cid:11)ावधान(cid:18) के अनुसार के(cid:3) (cid:5)ीय रेशम बोड (cid:29) (cid:10)ारा क(cid:6) गई सेवाT के कारण
(cid:11)ाCत फ(cid:6)स/(cid:11)भार/(cid:11)ािW. और
(च) उपरो(त (क) स े(ड.) पर अYजत :य ाज।
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(क) Bकसी भी वािणि@यक गितिविध म5 शािमल नह] होगा;
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(ग) आयकर अिधिनयम, 1961 क(cid:6) धारा 139 क(cid:6) उपधारा – 4(ग) के खंड (छ) के (cid:11)ावधान के अनसु ार आय क(cid:6) िववरणी
दायर करेगा।
3. यह अिधसूचना कर िनधा(cid:29)रण वष(cid:29) 2019-2020, 2020-2021, 2021-2022, 2022-2023 और 2023-2024 के
संबंध म 5लागू होगी।
[अिधसूचना स.ं 45 /2019/फा. सं.300196/3/2019-आईटीए-I]
राजाराजेb वरी आर., अवर सिचव
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 20th June, 2019
S.O.2005(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, ‘Central Silk Board’, Bengaluru,
PAN: AAALC0093M a Board constituted by the Central Government, in respect of the following specified income
arising to that Board, namely:—
(a) Grants/Funds received from the Centre/State/NGO or any other Statutory body by Central Silk Board;
(b) Compensation received on account of sale, disposal, auction or acquisition of movable and immovable properties
of Central Silk Board;
(c) Royalty or any other income received for the technologies patented and intellectual property rights owned by
Central Silk Board;
(d) Penalties and Levies collected under Government Statutes;
(e) Fees/charges/ receipt received on account of services rendered by Central Silk Board as per the provisions of the
Central Silk Board Act, 1948 (LXI of 1948) as amended by the Central Silk Board (Amendment) Act, 2006 (42
of 2006) and the Central Silk Board Rules, 1955 as amended by the Central Silk Board (Amendment) Rules,
2015; and
(f) Interest earned on (a) to (e) above.
2. This notification shall be effective subject to the conditions that Central Silk Board, Bengaluru,-
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and¹Hkkx IIµ[k.M 3(ii)º Hkkjr dk jkti=k % vlk/kj.k 3
(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 apply with respect to the assessment year 2019-2020, 2020-2021, 2021-2022, 2022-2023
and 2023-2024.
[Notification No. 45/2019/ F.No.300196/3/2019-ITA-I]
RAJARAJESWARI R., Under Secy.
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.