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<h1>People's Action for Development, Mumbai, Recognized Under Section 10(23C)(iv) of Income-tax Act for 1996-1997 Assessment Year.</h1> The Central Government has notified 'People's Action for Development (Maharashtra), Mumbai' under clause (23C)(iv) of section 10 of the Income-tax Act, 1961, for the assessment year 1996-1997. This notification requires the organization to exclusively apply its income to its established objectives, restricts fund investments to specified forms, and mandates maintaining separate accounts for business income unless incidental to its objectives. The organization must file regular income tax returns and, upon dissolution, transfer surplus assets to a similar charitable organization.