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of <h1>Central Government Notifies Basava Samithi Under Section 10(23C)(v) of Income-tax Act for 1999-2002 Assessment Years</h1> The Central Government has notified 'Basava Samithi, Bangalore' under section 10(23C)(v) of the Income-tax Act, 1961, for the assessment years 1999-2000 to 2001-2002. The notification requires that the organization's income be applied or accumulated solely for its established objectives. It also mandates that funds, excluding specific voluntary contributions, be invested only in forms specified in section 11(5). Additionally, any income from business activities must be incidental to the organization's objectives, with separate accounts maintained for such activities.
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