The Central Board of Direct Taxes (CBDT) on January 05, 2024, issued a notification for the purposes of the ‘Haryana State Board of Technical Education, Panchkula’ (PAN: AAAGT0008A) a Board constituted by the Government of Haryana, in respect of the certain specified income arising to that Board.
The following are the specified income arising to the Board namely: -
• Grants, Assignments, and Contributions received from the Central Government and the State Government of Haryana
• Fees, such as Affiliation Fees, Examination Fees, Migration Fees, Transcription Fees, etc.
• Royalties and charges including penalties
• Bequests, donations, and endowments or other contributions
• Sale proceeds of any securities and Rents and profits from property vested in Haryana State Board of Technical Education
• Interest earned on bank deposits
This notification shall be effective subject to the conditions that Haryana State Board of Technical Education, Panchkula namely: -
• Shall not engage in any commercial activity
• Activities and the nature of the specified income shall remain unchanged throughout the financial years
• Shall file the 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.
[Notification No. 83(E)]
