MINISTRY OF FINANCE

DEPARTMENT OF REVENUE

CENTRAL BOARD OF DIRECT TAXES

New Delhi: 19.10.2023

Notification No. 92/2023

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.

[Notification No. 90/2023 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.