Case law › Notifications › 2024 › Notification No. 7/2024 [F. No. 196/12/2023-ITA-I] / S.O. 79(E)

Notification 5 January 2024

Notification No. 7/2024 [F. No. 196/12/2023-ITA-I] / S.O. 79(E)

Ministry of Finance

What this is

Notification No. 7/2024 [F. No. 196/12/2023-ITA-I] / S.O. 79(E) was published on 5 January 2024. Its subject is Ministry of Finance.

This notifies a named person, body, fund or instrument for the purpose of a provision. Nothing in it changes the provision itself.

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.8	s.7
s.10	s.11, s.19
s.139	s.2, s.263, s.349

The instrument, as the Board published it

The department publishes this one only as a PDF, so the words below were read out of that PDF by machine. That reading can carry its own mistakes — a misread number, a broken line. Check the signed document before you rely on a figure in it.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 5th January, 2024
S.O. 79(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, 'Karmayogi Bharat (PAN:
AAJCK2949L), a Company incorporated under Section 8 of the Companies Act, 2013 with 100% equity shared
owned by the President of India i.e. Government of India, in respect of the following specified income arising to the
said Company, as follows:
(a) Grants/subsidies received from the Government/ Government bodies;
(b) Subscription Charges/Fees, Assessment fees, On boarding fees;
(c) Receipts from sale of forms, materials, disposal of scrap and tender fee; and
(d) Interest earned from Banks and Government Securities and Bonds.
2. This notification shall be effective subject to the conditions that Karmayogi Bharat –
(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 applicable for assessment years 2024-2025, 2025-2026, 2026-2027, 2027-2028 and
2028-2029 relevant for the financial years 2023-2024, 2024-2025, 2025-2026, 2026-2027 and 2027-2028 respectively.
[Notification No. 7/2024 F. No. 196/12/2023-ITA-I]
VIKAS SINGH, Director (ITA-I)
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.

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 42/2022 [F. No. 370142/10/2022-TPL] / GSR 309(E) — Ministry of Finance 22 April 2022
Circular No. 5/2006 — 5/2006 dated 15 05 2006 15 May 2006
Circular No. 430 — Circular : No. 430 [F. No. 225/101/85-IT(A-II)], dated 6-9-1985 6 September 1985
Circular No. 239 — 626. Relief in the case of amounts repaid under Additional Emoluments (Compulsory Deposit) Act - Procedure laid down for 16 May 1978
Circular No. 182 — Financial Year 1975-76 28 October 1975
Notification No. 116/2026 [F. No.195/13/2025-ITA-I] / SO 4706(E) : Notification in the case of Maharashtra Electricity Regulatory Commission — [भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3 25 August 2026

← Notification No. 6/2024 [F. No. 196/8/2021-ITA-I] / S.O. 80(E) · Notification No. 8 /2024 [F. No. 300196/37/2021-ITA-I] / S.O. 83(E) →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.