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Date: 24-Jul-2024 Category: Extra Ordinary State: Union Government Country: India

Notification under section 10(46) of the Income tax Act 1961 in case of Society for Applied Microwave Electronics Engineering and Research (SAMEER)

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

What it means

  • This gazette notification from the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, India, exempts certain income of the Society for Applied Microwave Electronics Engineering & Research (SAMEER), Mumbai, from income tax under section 10(46) of the Income Tax Act, 1961.

Key Changes

  • SAMEER, a society constituted by the Central Government (PAN: AALAS5825K), is granted tax exemption on specified income for assessment years 2021-2022, 2022-2023, 2023-2024, 2024-2025, and 2025-2026 (relevant to financial years 2020-2021 to 2024-2025).
  • The exempted income includes grants from the Ministry of Electronics and Information Technology, fees from testing and consultancy, design and development charges, royalty and technology transfer revenue, miscellaneous income as per SAMEER's Memorandum of Association, and interest on bank deposits.
  • The exemption is conditional: SAMEER must not engage in commercial activities, maintain the nature of its specified income unchanged throughout the financial year(s), and file income tax returns as per section 139(4C)(g) of the Income Tax Act, 1961.
  • The notification is given retrospective effect from the financial year 2020-2021, but it is certified that no person is adversely affected by this.

Impact Analysis

Impact on SAMEER

  • Action Item: Ensure compliance with the conditions for exemption (no commercial activity, unchanged income nature, timely tax filing).

Impact on the Government

  • Action Item: Monitor SAMEER's activities to ensure compliance with the conditions of the exemption and consider the long-term implications of the tax exemption on government revenue.

Impact on other research organizations

  • Action Item: Develop a clear and consistent policy on tax exemptions for research organizations to avoid creating unequal treatment.

Key Entities Referenced

Society for Applied Microwave Electronics Engineering & Research (SAMEER), Mumbai: A society constituted by the Central Government, engaged in research and development in microwave electronics and related fields. It is the primary beneficiary of this notification. Ministry of Finance (Department of Revenue), Central Board of Direct Taxes: The issuing authority of the notification. Responsible for the administration and collection of income tax in India. Ministry of Electronics and Information Technology: A source of grants for SAMEER, mentioned in the notification. Income Tax Act, 1961: The primary legislation under which this notification is issued. Section 10(46) is specifically referenced.
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See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-24072024-255709 xxxGIDHxxx CG-DLxx-xEG-I2D4E0x7x2x0 24-255709 असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 2798] नई दिल्ली, बुधिार, िुलाई 24, 2024/श्रािण 2, 1946 No. 2798] NEW DELHI, WEDNESDAY, JULY 24, 2024/SHRAVANA 2, 1946 जित्त मत्रं ालय (रािस्ट्ि जिभाग) (केंद्रीय प्रत्यक्ष कर बोडड) अजधसचू ना नई दिल्ली, 24 िुलाई, 2024 का.आ. 2935(अ).—आयकर अजधजनयम, 1961 (1961 का 43) की धारा 10 के खंड (46) द्वारा प्रित्त िजियों का प्रयोग करत े हुए, केंद्र सरकार, एतद्द्वारा उि खंड के प्रयोिनों के जलए ‘सोसायटी फोर एप्ल ाइड ड माइड रोवोिेि इड ल्‍र ोजन‍ स इड ंिीजनयररंग एडं ररसचड (समीर), मुम् बई’ (प्न: AALAS5825K), िो केंद्र सरकार द्वारा गरित एक सोसायटी ह,् को उद्भूत होने िाली जनम्नजलजखत जनर्िष्टड आय के संबंध में अजधसूजचत करती ह,् अर्ाडत्: (क) इड ले‍‍र ॉजनकी ूर सूचना प्रोगिकोजगकी मंत्रालय से प्राप् त अनुिान (ख) परीक्षण मापतोल तर्ा परामिड सेिाओं से प्राप् त िल्ु क (ग) आरएफ/माइड रोवोिेि तर्ा सबं द्ध क्षेत्रों में प्रणाजलयों/उपप्रणाजलयों के जलए जडिाइड न तर्ा जिकास िुल् क (घ) रॉयल् टी तर्ा प्रोगिकोजगकी के हस्ट्त ांतरण से प्राप् त रािस्ट् ि (ड.) समीर संघ के बजहर्नडयम के अनुसार जिजिध आय (च) बैंक िमा पर ब्याि। 4560 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] 2. यह अजधसूचना उन ितों के अधीन प्रभािी होगी दक ‘सोसायटी फोर एप् लाइड ड माइड रोवोिेि इड ल्‍र ोजन‍ स इड ंिीजनयररंग एंड ररसच ड(समीर), मुम् बई’:– (क) दकसी भी व् यािसाजयक गजतजिजध में िाजमल नहीं होगी; (ख) इड सकी गजतजिजधयां ूर जनर्िष्टड आय की प्रकृजत परू े जित्तीय िर्षों में अपररिर्तडत रहगें ी; ूर (ग) आयकर अजधजनयम, 1961 की धारा 139 की उप-धारा (4 ग) के खडं (छ) के प्रािधान के अनुसार आय की जििरणी िाजखल करेगी। 3. यह अजधसूचना रोवमिः जित्तीय िर्षों 2020-2021, 2021-2022, 2022-2023, 2023-2024 तर्ा 2024-2025 के जलए प्रासंजगक जनधारड ण िर्षों 2021-2022, 2022-2023, 2023-2024, 2024-2025 तर्ा 2025-2026 के जलए लाग ू मानी िाएगी। [अजधसूचना सं. 96/2024 फा.सं. 300196/34/2017-आईटीए-I] जिकास ससंह, जनिेिक (आईटीए-I) स्ट्प ष्ट ीकरण ञापन यह प्रमाजणत दकया िाता ह ् दक इड स अजधसूचना को भूतलक्षी प्रभाि िेने 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 24th July, 2024 S.O. 2935 (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, ‘Society for Applied Microwave Electronics Engineering & Research (SAMEER), Mumbai’ (PAN: : AALAS5825K), a Society constituted by Central Government, in respect of the following specified income arising to the said Society, as follows: a) Grants received from Ministry of Electronics and Information Technology b) Fees received from test measurement and consultancy services. c) Design and development charges for systems/subsystems in RF/Microwave and allied areas. d) Revenue from Royalty and transfer of technology. e) Miscellaneous income as per Memorandum of Association of the SAMEER. f) Interest on bank deposits. 2. This notification shall be effective subject to the conditions that ‘Society for Applied Microwave Electronics Engineering & Research (SAMEER), Mumbai’ – (a) shall not engage in any commercial activity; (b) its activities and the nature of the specified income shall remain unchanged throughout the financial year(s); 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 be applicable for Assessment Years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and 2025-2026 relevant for the financial years 2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025. [Notification No. 96/2024 F.No.300196/34/2017-ITA-I] VIKAS SINGH, Director (ITA-I) 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.

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