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of <h1>Pravara Medical Trust Gains Tax Exemption for 1999-2002 Under Section 10(23C)(vi) of Income-tax Act</h1> The Central Government has notified the Pravara Medical Trust, located in Ahmednagar, Maharashtra, under section 10(23C)(vi) of the Income-tax Act, 1961, for assessment years 1999-2000 to 2001-2002. The notification stipulates that the Trust must apply its income solely to its established objectives and invest funds only in specified forms. Business income is exempt only if it is incidental to the Trust's objectives, with separate accounts maintained. The Trust is required to file regular income tax returns, and in the event of dissolution, its assets must be transferred to a similar charitable organization.
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