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of <h1>National Foundation for Teachers' Welfare Gets Tax Exemption Under Section 10(23C)(iv) for 1993-96; Must Follow Strict Conditions.</h1> The Central Government has notified the National Foundation for Teachers' Welfare (NFTW) under section 10(23C)(iv) of the Income-tax Act, 1961, for the assessment years 1993-94 to 1995-96. The notification stipulates that NFTW must apply its income exclusively for its established objectives, refrain from investing funds in unauthorized forms, and ensure business profits are incidental and recorded separately. Additionally, NFTW is required to file its income tax returns regularly in compliance with the Income-tax Act. This notification excludes any income from non-incidental business activities.
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