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vkbZVh,l% इंट्रानेट के माध्यम से पररचालित करने के लिए

BIS/HQ/Accounts/Circular(12)/2016

BUREAU OF INDIAN STANDARDS (DDGF SECRETARIAT)

CIRCULAR

Sub: Notification under Section 10(46) of Income-tax Act, 1961, GOI, Ministry of Finance, Department of Revenue, CBDT towards extension of Income-Tax Exemption to BIS for Assessment Years 2017-18 to 2021-22 (Notification No. 111/2016 dated 01.12.2016)

1. Please refer to Circular No. BIS/HQ/Accounts/ Circular(05)/2015 dated 03 Feb 2015 and Circular No. BIS/HQ/Accounts/ Circular(09)/2015 dated 19 June 2015 regarding Income-tax exemption of BIS under Section 10(46) of Income-tax Act 1961 for Assessment Years 2012-13 to 2016-17(Notification No. 88/2014 dated 23.12.2014 of CBDT).

2. In exercise of powers conferred by clause (46) of Section 10 of the Income-tax Act 1961(43 of 1961), the Central Government vide notification No. 111/2016 dated 01.12.2016 has further extended the Income-tax exemption to BIS in respect of the following specified income arising to the Bureau namely:

i) Certification fee ii) Sale of standards, provided there is no profit involved. iii) Income from interest

This notification shall be applicable for the assessment years 2017-18, 2018-19, 2019-20, 2020-21 & 2021-22 and it shall be subject to the following conditions that:

a) the Bureau of Indian Standards should not engage in any commercial activity. b) the activities and the nature of the specified income of the Bureau of Indian

Standards remain unchanged throughout the financial year and c) the Bureau of Indian Standards files return of income in accordance with the

provision of clause (g) of sub section (4C) Section 139 of the said Act.

A copy of the Notification No. 111/2016 dated 01.12.2016 of CBDT is enclosed.

3. As a result of above said notification of CBDT, the income of BIS is not taxable and BIS is exempt from deduction of tax at source from the income received by BIS.

4. The above is being brought to the information and compliance by all DDGs at HQ, all DDGRs, Heads of all BOs/NITS/Labs, all Departments at HQ and DD(A&F)/AD(A&F)/SOs of all ROs/BOs. All licencees/clients of BIS may be informed through a letter that the above Income-tax exemption granted to BIS under section 10(46) of Income Tax Act, 1961 has been extended upto Assessment Year 2021-22. The licencees/clients may also be informed not to deduct any Tax at source on the income accruing to BIS.

Note: The certification fee mentioned in the Notification(Para 1(ii) above) will include fee from Product

Certification(including testing charges therein), System Certification, Hall Marking etc.

Ref: Accts/7:35 Date: 13 Dec 2016

sd/- (H.R. Ahuja)

Dy. Director General (Finance) Circulated through Intranet

For information & compliance:

(i) All DDGs at HQ (ii) All DDGRs (iii) Heads of all BOs/Labs/NITS (iv) Heads of all departments at HQ v) DD(A&F)/AD(A&F)/SOs of all ROs/BOs

For kind Information:

DG

ADG

CVO

Copy to : ITSD for placing on INTRANET