MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi, the 28th April, 2017
S.O. 1361(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, the National Skill Development Agency, a body constituted by the Central Government in respect of the following specified income arising to that body, as follows:-
i) grant-in-aid from Government of India; and
ii) interest earned on grant-in-aid from Government of India.
2. This notification shall be effective subject to the conditions that National Skill Development Agency, -
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income remain unchanged throughout the financial years; and (c) shall file returns of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the Income-tax Act, 1961.
3. This notification shall deemed to have been applied for the financial years 2014-2015, 2015-2016, 2016-2017 and shall be applicable for the financial years 2017-2018 and 2018-2019.
[Notification No. 33/2017/F.No. 196/15/2015-ITA-I]
Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective effect to this notification.