Amount received in the form of grants-in-aid from the Central Government – Orissa State AIDS Control Society. - 04/2014 - Income Tax

(TO BE PUBLISHED IN PART II, SUB-SECTION(II) OF SECTION 3 OF THE GAZETTE OF INDIA) GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NOTIFICATION NO. 04/2014 DATED 10-1-2014 S.O. 78(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, the Orissa State AIDS Control Society, a body constituted by the Government of Orissa in respect of the following specified income arising to that Society, namely: (a) amount received in the form of grants-in-aid from the Central Government; (b) interest earned on grants-in-aid. 2. This notification shall be deemed to have been applied for the financial years 2011-2012 and 2012-2013 and shall be applicable for the financial years 2013-2014, 2014-2015 and 2015-2016. 3. The notification shall be effective subject to the following conditions, namely: (a) the Orissa State AIDS Control Society does not engage in any commercial activity; (b) the activities and the nature of the specified income of the Orissa State AIDS Control Society remain unchanged throughout the financial year; and (c) the Orissa State AIDS Control Society files return of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the Income-tax Act, 1961 . 4. The grants received by the said Society shall be received and applied in accordance with the prevailing rules and regulations. [F.NO.196/80/2012-ITA.I]