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of <h1>Punjab Kesari Club, Mumbai notified under Section 10(23C)(iv) for tax exemptions from 1995-96 to 1997-98.</h1> The Central Government has notified the 'Punjab Kesari Club, Mumbai' under clause (23C)(iv) of section 10 of the Income-tax Act, 1961, for assessment years 1995-96 to 1997-98. The notification stipulates that the club must apply its income exclusively to its established objectives, restrict investments to specified forms, and ensure any business profits are incidental to its objectives with separate accounting. Additionally, the club must file regular income tax returns, and in the event of dissolution, its surplus and assets must be transferred to a charitable organization with similar objectives.
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