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<h1>Tax exemption notification under section 10(23C)(iv) grants recognition subject to compliance, reporting and asset transfer conditions on dissolution.</h1> Notification grants recognition under section 10(23C)(iv) for the assessment years 1999-2000 to 2001-02 provided the entity applies or accumulates income exclusively for its objects; restricts investments and deposits to forms permitted in section 11(5) (excluding certain voluntary contributions held in kind); treats business income as incidental only if separate books are maintained; files income-tax returns regularly; and on dissolution transfers surplus and assets to a charitable organization with similar objectives.
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