CBDT notifies Haryana State Board of Technical Education for Exemption u/s 10 (46) of IT Act

The Central Board of Direct Taxes (CBDT) has notified the Haryana State Board of Technical Education for Income Tax Exemption u/s 10 (46) of the IT Act via issuing a Notification.

The Notification Read as follows:

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, ‘Haryana State Board of Technical Education, Panchkula’ (PAN: AAAGT0008A), a Board constituted by Government of Haryana, in respect of the specified income arising to the said Board.

The following specified income arising to the said Board, as follows:

(a) Grants, Assignments and Contributions received from the Central Government and the State Government of Haryana;

(b) Fees, such as Affiliation Fees, Examination Fees, Migration Fees, Transcription Fees, etc.;

(c) Royalties and charges including penalties;

(d) Bequests, donations and endowments or other contributions;

(e) Sale proceeds of any securities and Rents and profits from property vested in Haryana State Board of Technical Education; and

(f) Interest earned on bank deposits.

This notification shall be effective subject to the conditions that the Haryana State Board of Technical Education, Panchkula –

(a) shall not engage in any commercial activity;

(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; 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.

This notification shall be deemed to have been applied for assessment years 2022-2023 and 2023-2024 relevant for the financial years 2021-2022 and 2022-2023 respectively.

For Official Notification Download PDF Given Below: