Notification no. 59/2025 dated 16.06.2025- Income tax

Central Board of Direct Taxes (CBDT) issued notification no. 59/2025 dated 16.06.2025 to hereby notify for the purposes of the said clause (46) of section 10 of the Income-tax Act, 1961, ‘Himachal Pradesh Board of School Education’, Dharamshala (PAN: AAAJH0373H), a Board established under Himachal Pradesh Board of School Education Act, 1968, in respect of the following specified income arising to that Board, namely:

a) Grants/advances/receipts received from State Government of Himachal Pradesh.

b) Fees/charges (by whatever name called) levied/received as per Himachal Pradesh Board of School Education Act, 1968

c) Receipt/income from sale of books and other educational material

d) Interest on bank deposits.

2. This notification shall be effective subject to the conditions that ‘Himachal Pradesh Board of School Education’, Dharamshala –

(a) shall not engage in any commercial activity;

(b) activities and the nature of the specified income shall remain unchanged throughout the financial year; 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 been applied for assessment years 2020-2021 to 2023-2024 relevant for the financial years 2019-2020 to 2022-2023 respectively.

Explanatory Memorandum

It is certified that no person is being adversely affected by giving retrospective effect to this notification.