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of <h1>Krishnagopal Ayurvedic Trust Gains Tax Exemption for 2001-2004 Under Section 10(23C)(iv), Must Follow Strict Compliance</h1> The Central Government has notified the 'Krishnagopal Ayurvedic Dharmath Aushdhayala Trust, Ajmer' under clause (23C)(iv) of section 10 of the Income-tax Act, 1961, applicable for the assessment years 2001-2002 to 2003-2004. The trust must apply its income exclusively to its established objectives, invest funds according to specified modes, and maintain separate accounts for any incidental business activities. It is required to file regular income tax returns and, upon dissolution, transfer surplus assets to a similar charitable organization. This notification excludes income from business profits unless incidental to the trust's objectives.
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