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of <h1>Divine Light Trust for the Blind Gains Tax Exemption Under Section 10(23C)(iv) for Specific Assessment Years</h1> The Central Government has notified the 'Divine Light Trust for the Blind, Bangalore' under clause (23C)(iv) of section 10 of the Income-tax Act, 1961, applicable for assessment years 1999-2000 to 2001-2002. The trust must apply its income exclusively to its objectives, invest funds as specified in section 11(5), 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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