Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, issued Notification No. 87/2023-Income Tax on 6th October 2023. This notification grants an exemption to the Dental Council of India, New Delhi, from specified income under Section 10 of the Income-tax Act, 1961.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 87/2023-Income Tax | Dated: 6th October, 2023
S.O. 4374(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, ‘Dental Council of India, New Delhi’ (PAN AAAJD0821E), a body constituted by the Central Government, in respect of the following specified income arising to that body, namely:
a) Fees and Subscriptions
b) Income from Royalty & Publications
c) Grant and Subsidies from Government
d) Interest Income from bank
2. This notification shall be effective subject to the conditions that Dental Council of India, New Delhi:-
(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 year 2023-2024 relevant to the financial year 2022-2023.
[Notification No. 87/2023 F. No. 300196/39/2022-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.
