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Core Purpose

The Central Government notifies the Haryana State Board of Technical Education (HSBTE), Panchkula, for exemption of specified income under clause (46) of section 10 of the Income-tax Act, 1961.

Detailed Summary

The Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), issued Notification S.O. 5442(E) on November 26, 2025, exercising powers under clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961). This notification designates the 'Haryana State Board of Technical Education (HSBTE), Panchkula' (PAN: AAAGT0008A), a Board constituted by the Government of Haryana, for the purpose of specified income exemption. The exempted income categories include grants, assignments, and contributions received from the Central Government and the State Government of Haryana; various fees (Affiliation, Examination, Migration, Transcription); royalties, charges, and penalties; bequests, donations, endowments, or other contributions; sale proceeds of any securities and rents & profits from property vested in HSBTE; and interest earned on bank deposits. The effectiveness of this notification is contingent upon HSBTE not engaging in any commercial activity, ensuring that activities and the nature of the specified income remain unchanged throughout the financial years, and filing returns of income in accordance with clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961. This notification is deemed to have applied for Assessment Year 2025-2026 (relevant to Financial Year 2024-25) and is applicable for Assessment Years 2026-27 to 2029-30 (relevant to Financial Years 2025-2026 to 2028-2029). The internal reference for this notification is No. 163/2025/F. No. 300196/76/2024-ITA-I, and it is certified that no person is adversely affected by its retrospective effect.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-26112025-267980 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 5261] NEW DELHI, WEDNESDAY, NOVEMBER 26, 2025/AGRAHAYANA 5, 1947 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 26th November, 2025 S.O. 5442(E).— 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 (HSBTE), Panchkula' (PAN: AAAGT0008A), a Board constituted by Government of Haryana, in respect of 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 & profits from property vested in HSBTE. (f) Interest earned on bank deposits. 2. This notification shall be effective subject to the conditions that 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. 3. This notification shall be deemed to have applied for Assessment Year 2025-2026 relevant to Financial Year 2024-25 and applicable for Assessment Years 2026-27 to 2029-30 relevant to Financial Years 2025-2026 to 2028-2029. [Notification No. 163/2025/F. No. 300196/76/2024-ITA-I] MEENAKSHI SINGH, Dy. Secy. Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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