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of <h1>Sri Aurobindo Society Notified Under Section 10(23C)(iv) for Tax Exemption; Must Adhere to Specific Conditions</h1> The Central Government has notified the 'Sri Aurobindo Society, Kolkata' under clause (23C)(iv) of section 10 of the Income-tax Act, 1961, applicable for assessment years 2004-2005 to 2006-2007. The society must apply its income solely to its established objectives, invest funds only in specified modes, and maintain separate accounts for any incidental business activities. It is also required to file regular income tax returns. In case of dissolution, any surplus and assets must be transferred to a charitable organization with similar objectives.
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