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of <h1>Income from Chief Minister's Earthquake Relief Fund exempted from tax for 2003-2006 under Section 10(23C)(iv) with conditions.</h1> The Central Government has issued Notification No. 125/2006, dated May 25, 2006, exempting any income received on behalf of the Chief Minister's Earthquake Relief Fund, Maharashtra, from being included in the total income for assessment years 2003-2004 to 2005-2006 under Section 10(23C)(iv) of the Income-tax Act, 1961. This exemption is subject to conditions: the income must be applied or accumulated for the fund's objectives, investments must comply with specified forms, and business income is exempt only if incidental and separately accounted. The fund must file regular tax returns, and surplus assets on dissolution must go to a similar organization.
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