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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.

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