CBDT exempts income of Punjab Nurses Registration Council (PAN: AAABR0094H) u/s 10(46) for assessment years 2022-2023 and 2023-2024
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 84/2023
New Delhi, the 29th September, 2023
S.O. 4265(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 Nurses Registration Council’ (PAN: AAABR0094H), a council constituted by the Government of Punjab, in respect of the following income arising to the Council, namely:-
(a) Fees from Nursing students and affiliated nursing institutions; and
(b) Interest earned on funds deposited in banks including fixed deposits.
2. The provisions of this notification shall be effective subject to the conditions that Punjab Nurses Registration Council –
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income remain unchanged throughout the financial years; and
(c) shall file returns 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 for the financial years 2021-2022 and 2022-2023 respectively.
[F. No. 300196/10/2022-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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