MINISTRY OF FINANCE
                                           (Department of Revenue)
                                  (CENTRAL BOARD OF DIRECT TAXES)
                                               NOTIFICATION
                                         New Delhi, the 4th July, 2019
         S.O. 2377(E).--In supersession of Gazette Notification No.2726(E) dated 17.08.2016, the Central
Government in exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961(43 of
1961), hereby notifies for the purposes of the said clause, `National Skill Development Corporation' (PAN
AACCN8680L), a body constituted by the Central Government, in respect of the following specified income
arising to that body, namely:-






       (a)   Amount received in the form of Government grants.
       (b)   Amount received in the form of grants for skill development other Government grants;
       (c)   Long-term or short-term capital gain out of investment in an organisation for skill development;
       (d)   Dividend and royalty from skill development venture supported or funded by National Skill
             Development Corporation;
       (e)   Income from Accreditation Fees, Registration fees, fees from training partners and other cost
             recovery from its skill development activities;
       (f)   Administrative & Mobilization fees from the scheme management;
       (g)   Income from institutions outside India for skilling, Training & Employability;
       (h)   Interest on loans to Institutions for skill development;
       (i)   Miscellaneous income, like sale of scrap, Profit on sale of assets, RTI application fees, forfeiture
             of Bank Guarantee, interest on income tax refund, excess provision written back; and
       (j)   Interest earned on (a) to (i) above.






2.     The provisions of this notification shall be effective subject to the conditions that National Skill
Development Corporation,-
        (a)   shall not engage in any commercial activity;
        (b)   activities and the nature of the specified income remain unchanged throughout the financial years;
              and
        (c)   shall file returns of income in accordance with the provision of clause (g) of sub-section (4C)
              section 139 of the Income-tax Act, 1961.
3.     This notification shall be deemed to have been applied for the assessment year 2017-2018, 2018-2019,
2019-2020 and shall apply with respect to the assessment years 2020-2021 and 2021-2022.
                                                              [Notification No. 51/2019, F.No.196/39/2015-ITA-I]
                                                                                 RAJARAJESWARI R., Under Secy.
Explanatory Memorandum : It is certified that no person is being adversely affected by giving
                         retrospective effect to this notification.




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                                                                                                            MANOJ KUMAR
                                                                                             KUMAR          VERMA
                                                                                                            Date: 2019.07.06
                                                                                             VERMA          14:42:17 +05'30'