**Executive Summary**
This notification, issued by the Central Board of Direct Taxes on March 27, 2026, grants income tax exemptions to the ‘Goa Board of Secondary and Higher Secondary Education’ under the Income-tax Act, 1961. The exemption applies to specified grants, fees, and interest income for the financial years 2023-24 through 2027-28. To maintain this status, the Board must adhere to strict operational conditions and filing requirements.
**Key Points / Main Content**
**Specified Exempt Income**
* Grants received from the Central Government and the State Government of Goa.
* Fees, income, or moneys received in accordance with the Goa, Daman and Diu Secondary and High Secondary Education Board Act, 1975 and Rules, 1975.
* Interest earned on bank deposits and various investments.
**Conditions for Exemption**
* The Board is strictly prohibited from engaging in any form of commercial activity.
* The nature of the Board's activities and its specified income must remain unchanged throughout the financial year.
* The Board must file its return of income as per the provisions of section 139(4C)(g) of the Income-tax Act, 1961.
**Period of Applicability**
* The notification is effective for the financial years 2023-24 to 2027-28.
* This corresponds to the assessment years 2024-25 to 2028-29.
**Non-Compliance and Enforcement**
* Failure to adhere to the prescribed conditions may result in the withdrawal of the tax exemption granted under section 10(46).
* Non-compliance may trigger penal actions under the existing provisions of the Income-tax Act, 1961.
**Impact Analysis**
**Goa Board of Secondary and Higher Secondary Education**
**Impact**
The Board receives a formal tax-exempt status on its primary revenue streams (grants, fees, and interest) for a five-year period. This includes a retrospective effect from the year of application, providing financial relief without adversely affecting stakeholders.
**Action Required**
The Board must ensure it does not enter into commercial ventures and keeps its operational scope consistent. It is also required to regularly file income tax returns under Section 139(4C) to maintain eligibility.
**Income Tax Department (Central Board of Direct Taxes)**
**Impact**
The department establishes the legal framework for monitoring the Board’s financial compliance and ensures that the tax benefit is restricted to non-commercial, educational purposes.
**Action Required**
The department must oversee the Board’s filings and has the authority to initiate penal proceedings or revoke exemptions if the Board violates the specified conditions.
Key Entities Referenced
Goa Board of Secondary and Higher Secondary Education, Goa: The primary entity notified for income tax exemption on specified incomes such as grants, fees, and interest on deposits.
Section 10(46) of the Income-tax Act, 1961: The specific legal provision that empowers the Central Government to grant tax exemptions to notified bodies, boards, or authorities.
Income-tax Act, 1961: The principal legislation governing direct taxation in India, under which this notification and its associated exemptions are issued.
Central Board of Direct Taxes (CBDT): The regulatory authority under the Ministry of Finance responsible for administering direct tax laws and issuing the tax exemption notification.
Goa, Daman and Diu Secondary and Higher Secondary Education Board Act, 1975: The constituent legislation under which the notified educational board was established and collects its fees and income.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-27032026-271352
CG-DxLx-xEG-I2D7H0x3x2x0 26-271352
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असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 1560] नई दिल्ली, िुििार, माच ड27, 2026/चत्रै 6, 1948 13, 1947 26/पौर् 17, 1947
No. 1560] NEW DELHI, FRIDAY, MARCH 27, 2026/CHAITRA 6, 1948 ss, 1947 /PAUSHA 17, 1947
जित्त मत्रं ालय
(रािस्ट्ि जिभाग)
(केन्द्रीय प्रत्यक्ष कर बोडड)
अजधसचू ना
नई दिल्ली, 27 माच,ड 2026
का.आ. 1625(अ).—केंर सरकार, आयकर अजधजनयम, 1961 (1961 का 43) की धारा 10 के खंड (46) द्वारा
प्रित्त िजियों का प्रयोग करते हुए, एतद्द्वारा, उि खडं के प्रयोिनों के जलए, गोिा माध्यजमक एिं उच्चतर माध्यजमक जिक्षा
बोडड, गोिा (पैन: AAALT1048H), िो गोिा, िमन एिं िीि की जिधानमंडल द्वारा पाररत गोिा, िमन एिं िीि माध्यजमक
एिं उच्चतर माध्यजमक जिक्षा बोडड अजधजनयम, 1975 और जनयम, 1975 द्वारा गरित बोड ड ह,ै को के उद्देश्य स े अजधसूजचत
करती ह,ै यथा इस बोड डको होने िाली जनम्नजलजखत जिजनर्िडष्ट आयः-
क) केंर सरकार और गोिा राज्य सरकार से प्राप्त अनुिान;
ख) गोिा, िमन और िीि माध्यजमक एिं उच्च माध्यजमक जिक्षा बोडड अजधजनयम, 1975 एिं जनयम, 1975 के अनुसार
प्राप्त िुल्क/आय/धन; और
ग) बैंक िमा और जनिेि पर ब्याि
2. यह अजधसूचना इन ितों के अधीन प्रभािी होगी दक गोिा माध्यजमक एिं उच्चतर माध्यजमक जिक्षा बोडड, गोिा-
(क) दकसी भी िाजणजज्यक गजतजिजध में संलग्न नहीं होगा;
(ख) इसके दियाकलापों और जनर्िडष्ट आय की प्रकृजत परू े जित्तीय िर्ड में अपररिर्ततड रहगे ी; और
2267 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(ग) आयकर अजधजनयम, 1961 की धारा 139 की उपधारा (4ग) के खंड (छ) के प्रािधान के अनसु ार आय का ररटन ड
िाजखल करेगा।
2.1 इन ितों का पालन न करन े पर आयकर अजधजनयम, 1961 के प्रािधानों के तहत िडं ात्मक कारडिाई िुरू की िा
सकती ह ैऔर इस अजधजनयम की धारा 10(46) के तहत िी गई छूट िापस ली िा सकती ह।ै
3. यह अजधसूचना जित्तीय िर्ड 2023-24 स े 2027-28 के जलए प्रासंजगक जनधाडरण िर्ड 2024-25 से 2028-29 तक
लाग ूरहगे ी।
[अजधसूचना स.ं 35 /2026/फा.सं300196/52/2024-आईटीए-I]
हरिेि ससंह, अिर सजचि
व्याख्यात्मक ज्ञापन
प्रमाजणत दकया िाता ह ै दक इस अजधसूचना को पूिडव्यापी प्रभाि से (सीबीडीटी/जिभाग के समक्ष आिेिन दकए िाने के िर् ड
से) लागू करन े से दकसी भी व्यजि पर प्रजतकूल प्रभाि नहीं पड़ रहा ह।ै
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 27th March, 2026
S.O. 1625(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, ‘Goa Board of Secondary and
Higher Secondary Education, Goa’ (PAN: AAALT1048H), a Board constituted by the Goa, Daman and Diu Secondary
and Higher Secondary Education Board Act, 19754 and Rules, 1975, passed by the Legislative of Goa of Goa, Daman
and Diu in respect of the following specified income arising to that Board, namely:-
(a) Grants received from Central Government and State Government of Goa;
(b) Fees / Income/ Moneys received as per the Goa, Daman and Diu Secondary and High
Secondary Education Board Act, 1975 and Rules, 1975; and
(c) Interest on bank deposits an d investments.
2. This notification shall be effective subject to the conditions that ‘Goa Board of Secondary and Higher
Secondary Education, Goa’ -
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income shall remain unchanged throughout the
financial year; 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.
2.1 Failure to comply with these conditions may result in the initiation of penal actions under the provisions of the
Income-tax Act, 1961 and withdrawal of the exemption granted u/s 10(46) of the Act.
3. This notification shall be applicable for the assessment years 2024-25 to 2028-29 relevant for the financial
years 2023-24 to 2027-28.
[NOTIFICATION No. 35/2026/F.No.300196/52/2024-ITA-I]
HARDEV SINGH, Under Secy.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect (with effect from the year of application
made before the CBDT / Department) 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.