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<h1>Society for Promotion of Wasteland Development Gains Tax Exemption under Section 10(23C)(iv) with Strict Compliance Conditions</h1> The Central Government has notified the 'Society for Promotion of Wasteland Development, New Delhi' under clause (23C)(iv) of section 10 of the Income-tax Act, 1961, for assessment years 2002-03 to 2004-05. The notification imposes conditions: the society must apply its income solely to its objectives, invest funds according to specified modes, maintain separate accounts for any incidental business, file regular income tax returns, and, upon dissolution, transfer surplus assets to a similar charitable organization. These conditions ensure the society's alignment with its established purposes and compliance with tax regulations.