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The Central Government notifies specified income of the Madhya Pradesh Professional Examination Board for income tax exemption under section 10 of the Income-tax Act, 1961. The specified income covers examination fees, application form sales, and bank deposit interest. The Board must not engage in commercial activity and must keep its activities unchanged. The Board must file a return of income under section 139 of the Act. The notification applies for the assessment year 2023-2024.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 2nd January, 2024
S.O. 42(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, Madhya Pradesh Professional Examination Board, Bhopal (PAN- AAAGP1792B), a Board constituted by the Madhya Pradesh Government, in respect of the following specified income arising to that body, namely:
[Notification No. 3/2024/ F. No. 300196/29/2022-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.
