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of <h1>Karnataka Badminton Association Gains Tax Exemption Under Section 10(23) for 1994-97; Must Comply with Section 11 Guidelines.</h1> The Central Government has notified the Karnataka Badminton Association, Bangalore, under section 10(23) of the Income-tax Act, 1961, for the assessment years 1994-95 to 1996-97. The notification stipulates that the association must apply or accumulate its income exclusively for its established objectives, in accordance with sections 11(2) and 11(3). It must not invest its funds, except for specified voluntary contributions, outside the modes listed in section 11(5). The association is prohibited from distributing income to members, except as grants to affiliated bodies, and any business income must be incidental and separately accounted for.
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