CBDT notifies Punjab Nurses Registration Council for Exemption u/s 10(46) of IT Act:

CBDT notifies Punjab Nurses Registration Council for Exemption u/s 10(46) of IT Act The Central Board of Direct Taxes(CBDT) has notified the Punjab Nurses Registration Council for Exemption u/s 10(46) of IT Act 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 Nurses Registration Council’ (PAN: AAABR0094H), a council constituted by the Government of Punjab, in respect of the income arising to the Council." The following income arising to the Council:- (a) Fees from Nursing students and affiliated nursing institutions; and (b) Interest earned on funds deposited in banks including fixed deposits. 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. 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. For Official Notification Download PDF Given Below: