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U/s 10(46) of the Income-tax Act, 1961 Central Government notifies ‘Uttaranchal Board of Technical Education, a board constituted by the State Act Uttaranchal Board of Technical Education Act, 2003, in respect of the specified income arising to the said Board - 66/2018 - Income Tax Act, 1961
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Specified income exemption for educational board permitted, subject to non commercial conduct and prescribed filing and continuity conditions. Notification designates Uttaranchal Board of Technical Education as eligible for exemption for specified income comprising grants/subsidies; fees, fines and penalties under the State Act; sale receipts for application forms and educational material; disposal of assets and scrap; rent from let properties; royalty or licence fees for technical knowledge and infrastructure; and interest on those receipts. The exemption is subject to conditions: the Board must not undertake commercial activity, maintain unchanged activities and income character across financial years, and file income-tax returns as prescribed. The notification applies retrospectively to a stated assessment year and to several subsequent assessment years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Specified income exemption for educational board permitted, subject to non commercial conduct and prescribed filing and continuity conditions.
Notification designates Uttaranchal Board of Technical Education as eligible for exemption for specified income comprising grants/subsidies; fees, fines and penalties under the State Act; sale receipts for application forms and educational material; disposal of assets and scrap; rent from let properties; royalty or licence fees for technical knowledge and infrastructure; and interest on those receipts. The exemption is subject to conditions: the Board must not undertake commercial activity, maintain unchanged activities and income character across financial years, and file income-tax returns as prescribed. The notification applies retrospectively to a stated assessment year and to several subsequent assessment years.
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