Government gives income tax exemption to CBSE, books and exams will be cheaper- Watch Video

For the parents who are instructing their kids in CBSE board, there is good news. The Central Board of Secondary Education (CBSE) has been granted an exemption from income tax on examination fees, the sale of books and publications, and other income by the Finance Ministry. This would lower the cost of CBSE textbooks. Additionally, there will be a decrease in the costs associated with the exams. 

Tax exemption available for these years

Income tax exemption has been given for the financial year 2020-2021 i.e. June 1, 2020 to March 31, 2021 and for the financial years 2021-22 and 2022-23. This exemption will continue in the current financial year and the next financial year 2024-25.

Relief in these things

The examination fee in tax benefit given by Ministry of Finance; affiliation fee; Sale of text books and publications, registration fee, sports fee, training fee and other academic receipts. Also, receipts from CBSE projects/programmes; interest on income tax refund; As income tax will not be charged on the income. However, CBSE will not engage in any commercial activity and the nature of activities and specified income will remain unchanged throughout the financial years.