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of <h1>Central Government Grants Tax Exemption to NSDC's Income u/s 10(46) of Income-tax Act for 2016-2021.</h1> The Central Government, under Section 10(46) of the Income-tax Act, 1961, has notified the National Skill Development Corporation (NSDC) regarding specific tax-exempt income. This includes long-term capital gains from skill development investments, dividends and royalties from supported ventures, interest on loans to skill development institutions, interest from bank fixed deposits, and government grants. The NSDC must not engage in commercial activities, maintain the nature of income, and file returns as per Section 139(4C). This notification applies to financial years 2016-17 through 2020-21 and was superseded by a later notification in 2019.
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