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The Central Government notifies the Maharashtra Council of Homoeopathy for income tax exemption under section 10 clause 46 of the Income-tax Act 1961. The exemption applies to specific income from member fees, seminar fees, and bank interest. The authority must not engage in commercial activity. The authority must keep activities and income nature unchanged. The authority must file a return of income under section 139 sub-section 4C clause g. The notification applies to assessment year 2023-2024 for financial year 2022-2023.
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हं MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 24th November, 2023
S.O. 5045(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, ‘Maharashtra Council of Homoeopathy’ (PAN AAATM8895K), a Body established under clause No 14 of the Maharashtra Homoeopathy Practitioners’ Act, 1960 by the Government of Maharashtra, in respect of the following specified income arising to the said Authority, as follows:
[Notification No.101/2023/F. No. 300196/34/2022-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.
