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of <h1>'EAN INDIA' Notified Under Income-tax Act Section 10(23C)(iv) for 1996-99; Must Adhere to Strict Income Use Rules.</h1> The Central Government has notified 'EAN INDIA,' New Delhi, under section 10(23C)(iv) of the Income-tax Act, 1961, for the assessment years 1996-97 to 1998-99. The notification stipulates that the assessee must apply its income exclusively to its established objectives, not invest funds improperly, and maintain separate accounts for any incidental business activities. Additionally, the assessee is required to file regular income tax returns in compliance with the Act. This notification excludes any income from business profits unless the business supports the assessee's objectives.
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