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of <h1>Income for Swadeshi Jagaran Foundation exempt under Section 10(23C)(iv) if conditions met for 2004-2007 assessments.</h1> Income received by any person on behalf of the Swadeshi Jagaran Foundation, New Delhi, is exempt from inclusion in total income for assessment years 2004-2005 to 2006-2007 under Section 10(23C)(iv) of the Income-tax Act, 1961. This exemption is conditional upon the Foundation applying its income exclusively to its objectives, not accumulating more than 15% of its income beyond five years, investing funds as specified, maintaining separate accounts for incidental business income, filing regular tax returns, and ensuring surplus assets are transferred to a similar organization upon dissolution. The notification does not apply to other income of the recipients.
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