CBDT grants Tax Exemption to Punjab Dental Council, Mohali u/s 10(46) of Income Tax Act [Read Notification]
![CBDT grants Tax Exemption to Punjab Dental Council, Mohali u/s 10(46) of Income Tax Act [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/10/CBDT-grants-Tax-Exemption-Punjab-Dental-Council-Mohali-Income-Tax-Act-TAXSCAN.jpg "CBDT grants Tax Exemption to Punjab Dental Council, Mohali u/s 10(46) of Income Tax Act [Read Notification]")
The Central Board of direct taxes (CBDT) vide notification no. G.S.R. 786(E) issued on 20th October 2023 has granted the tax exemption to Punjab Dental Council under Section 10(46) of Income Tax Act, 1961. The income exempted from income tax are: Receipt of Registration/Renewal received from DoctorsInterest income on accumulated surplus in the shape of F.D.R.s However,...
The Central Board of direct taxes (CBDT) vide notification no. G.S.R. 786(E) issued on 20th October 2023 has granted the tax exemption to Punjab Dental Council under Section 10(46) of Income Tax Act, 1961.
The income exempted from income tax are:
- Receipt of Registration/Renewal received from Doctors
- Interest income on accumulated surplus in the shape of F.D.R.s
However, 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.
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.
To Read the full text of the Notification CLICK HERE
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