{"id":215087,"date":"2019-05-27T19:30:03","date_gmt":"2019-05-27T14:00:03","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=215087"},"modified":"2019-05-27T16:28:44","modified_gmt":"2019-05-27T10:58:44","slug":"exemption-under-s-1046-cbdt-notifies-aicte-for-exemption-under-s-1046-of-income-tax-act-1961","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/05\/27\/exemption-under-s-1046-cbdt-notifies-aicte-for-exemption-under-s-1046-of-income-tax-act-1961\/","title":{"rendered":"Exemption under S. 10(46) | CBDT notifies AICTE for exemption under S. 10(46) of Income-tax Act, 1961"},"content":{"rendered":"

S.O. 1801(E)\u2014<\/strong>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, \u2018All India Council for Technical Education\u2019<\/strong>, New Delhi, a Council established by the Central Government, in respect of the following specified income arising to that council, namely:-<\/p>\n

(a) Grants\/subsidies received from the Government\/ Govt. bodies;
\n(b) Regulatory Charges;
\n(c) RTI fee and Examination fee;
\n(d) CMAT\/GPAT fee;
\n(e) Receipts from sale of forms, materials and tender fee;
\n(f) Receipts from disposal of scrap; and
\n(g) Interest earned on (a) to (f) above.<\/p>\n

2. This notification shall be effective subject to the conditions that All India Council for Technical Education, New Delhi-<\/p>\n

(a) shall not engage in any commercial activity;
\n(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and
\n(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.<\/p>\n

3. This notification shall apply with respect to the assessment year 2019-2020, 2020-2021, 2021-2022, 2022-2023 and 2023-2024.<\/p>\n

\n

[Notification dt. 23-05-2019]<\/strong><\/p>\n

Ministry of Finance<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

S.O. 1801(E)\u2014In exercise of the powers conferred by clause (46) of Section 10 of the Income-tax Act, 1961 (43 of 1961), the <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[35658,35659,35661,35660],"class_list":["post-215087","post","type-post","status-publish","format-standard","hentry","category-legislationupdates","category-notifications","tag-all-india-council-for-technical-education","tag-clause-46-of-section-10-of-income-tax-act-1961","tag-regulatory-charges","tag-section-139-of-the-income-tax-act"],"yoast_head":"\nExemption under S. 10(46) | CBDT notifies AICTE for exemption under S. 10(46) of Income-tax Act, 1961 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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