Quick Summary
The Central Board of Direct Taxes (CBDT) has notified National Skill Development Corporation eligible for Income Tax Exemption under section 10 (46) of the Income Tax Act, 1961. Read the official notification as mentioned below: MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 21st January, 2022 S.O. 294(E). - In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central
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1 Year PLAN
1999
(Excl. of GST ₹359)
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2 Years PLAN
3499
(Excl. of GST ₹629)
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FAQ :
The National Skill Development Corporation is a body constituted by the Central Government.
The exemption is granted under Section 10(46) of the Income Tax Act, 1961.
The exemption covers income from government grants, skill development grants, capital gains from investments in skill development organisations, dividends and royalties from skill development ventures, fees from skill development activities, administrative fees, income from international skilling institutions, interest on loans for skill development, and miscellaneous income.
Yes, the NSDC must not engage in any commercial activity, its activities and income nature must remain unchanged, and it must file income tax returns as required.
The exemption is applicable for the financial years 2021-2022, 2022-2023, 2023-2024, 2024-2025, and 2025-2026.
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