Section 10(46) of the Income-tax Act, 1961 Central Government notifies National Council of Science Museums as an autonomous body in respect of specified income arising to the Council

By | January 29, 2015
Section 10(46) of the Income-tax Act, 1961 Central Government notifies National Council of Science Museums as an autonomous body in respect of specified income arising to the Council – 08/2015 – Dated 20-1-2015 – Income Tax

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II,
SECTION. 3, SUB-SECTION (ii)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION NO. 08/2015
INCOME-TAX

New Delhi, the 20th  January , 2015

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, “National Council of Science Museums” an autonomous body under the Ministry of Culture, Government of India, in respect of the following specified income arising to the Council, namely:-

(a)   amount received in the form of grants-in-aid and subsidies from Government of India;

(b)   fees or subscription by sale of tickets;

(c)   charges for maintenance recovered for use of auditorium and other public facilities for scientific and educational purposes; and

(d)   income arising or derived by way of interest received from investment.

2. The notification shall be subject to the following conditions, that National Council of Science Museums-

(a)   shall not engage in any commercial activity;

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

(c)   it files return of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the said Act.

3. This notification shall be applicable for the financial years 2012-2013 to 2016-2017.

[F.NO.196/1/2013-ITALIA]

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