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of <h1>St. Xaviers Education Trust in Mumbai Gains Tax Exemption for 1999-2002 Under Section 10(23C)(vi) Income-tax Act</h1> The Central Government has notified the St. Xaviers Education Trust, Mumbai, under section 10(23C)(vi) of the Income-tax Act, 1961, for the assessment years 1999-2000 to 2001-2002. The notification stipulates that the trust must exclusively apply its income to its established objectives, avoid inappropriate investments, maintain separate accounts for any incidental business activities, and file regular income tax returns. In case of dissolution, surplus assets must be transferred to a similar charitable organization. The trust is also required to ensure compliance with investment modes specified in the Act by March 31, 2001.
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