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of <h1>Delhi Catholic Archdiocese Income Exempt from Tax for 2005-2008 Under Section 10(23C)(v), Conditions Apply</h1> The Central Government has issued a notification exempting any income received on behalf of the Delhi Catholic Archdiocese, New Delhi, from being included in the total income for assessment years 2005-2006 to 2007-2008 under Section 10(23C)(v) of the Income-tax Act, 1961. This exemption is contingent upon the institution applying its income to its established objectives, not exceeding a five-year accumulation period for income exceeding 15%, and adhering to specified investment modes. The exemption excludes business income unless incidental to the institution's objectives, with separate accounts maintained. The institution must file regular income tax returns, and in dissolution, transfer surplus to a similar organization.
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