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of <h1>Krishnamurti Foundation India recognized under Income-tax Act Section 10(23C)(iv) for 1990-93; must comply with specific fund use rules.</h1> The Central Government has issued a notification under section 10(23C)(iv) of the Income-tax Act, 1961, recognizing Krishnamurti Foundation India, Madras, for the assessment years 1990-91 to 1992-93. The notification stipulates that the foundation must apply its income exclusively to its established objectives and invest its funds only in specified forms or modes, excluding voluntary contributions in the form of jewelry or furniture. Additionally, any business income must be incidental to the foundation's objectives, with separate accounts maintained.
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