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of <h1>Trust Notified Under Section 10(23C)(iv) for Tax Exemption; Must Adhere to Investment and Income Usage Rules</h1> The Central Government has notified a trust in Bangalore under Section 10(23C)(iv) of the Income-tax Act, 1961, for the assessment years 1999-2000 to 2001-2002. The trust must apply its income exclusively for its established purposes and may only invest or deposit funds in specified forms, excluding voluntary contributions maintained as assets like jewellery or furniture. The notification excludes income from business activities unless such business is incidental to the trust's objectives and separate accounts are maintained.
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