Madhya Pradesh Professional Examination Board notified for Income Tax Exemption u/s 10(46) [Read Notification]:

Madhya Pradesh Professional Examination Board notified for Income Tax Exemption u/s 10(46) [Read Notification] The Central Board of Direct Taxes (CBDT) has notified the Madhya Pradesh Professional Examination Board for Income Tax Exemption u/s 10(46) of the Income Tax Act, 1961 via issuing Notification. The Notification Read as follows: 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, Madhya Pradesh Professional Examination Board, Bhopal (PAN- AAAGP1792B), a Board constituted by the Madhya Pradesh Government, in respect of the specified income arising to that body. The following specified income arising to that body, namely: a) Fees of Examination and Sale of Application Form; and b) Interest earned on bank deposits. This notification shall be effective subject to the conditions that Madhya Pradesh Professional Examination Board, Bhopal:- (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 a 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 the assessment year 2023-2024 relevant to the financial year 2022-2023. For Official Notification Download PDF Given Below: