Exemption from specified income U/s 10(46) – ‘Punjab Dental Council, Mohali’ notified - 90/2023 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 90/2023 New Delhi, the 19th October, 2023 S.O. 4577(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, Punjab Dental Council, Mohali (PAN: AAAJP0976C), a Council constituted by the Government of Punjab, in respect of the following specified income arising to that council, namely: a) Receipt of Registration/Renewal received from Doctors b) Interest income on accumulated surplus in the shape of F.D.R.s 2. This notification shall be effective subject to the conditions that Punjab Dental Council, Mohali :- (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 deemed to have been applied for assessment years 2022-2023 and 2023-2024 relevant to the financial years 2021-2022 and 2022-2023. [F. No. 300196/11/2022-ITA-I] VIKAS SINGH, Director (ITA-I) Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification.