CBDT notifies Punjab Dental Council Mohali for Exemption u/s 10(46) of IT Act

The Central Board of Direct Taxes (CBDT) has notified Punjab Dental Council Mohali for Income Tax Exemption under Section 10(46) of the Income Tax Act, 1961 via issuing Notification.

The Notification Stated:

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 specified income arising to that council.

The following specified income arising to that council are:

a) Receipt of Registration/Renewal received from Doctors.

b) Interest income on accumulated surplus in the shape of F.D.R.s.

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.

For Official Notification Download PDF Given Below: