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<h1>Central Government Notifies Clinical Research Foundation Under Section 10(23C)(iv) for Tax Exemption, Sets Conditions</h1> The Central Government has notified a clinical research foundation in Chennai for the assessment years 2002-2003 to 2004-2005 under Section 10(23C)(iv) of the Income-tax Act, 1961. The notification specifies conditions: the foundation must apply its income exclusively for its objectives, avoid certain investments, ensure business profits are incidental and separately accounted, regularly file tax returns, and, upon dissolution, transfer surplus assets to a similar charitable organization. This notification, issued under File No.197/53/2004-ITA-I, was signed by an Under Secretary to the Government of India on 11th August 2004.