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<h1>'Khelaghar' Recognized Under Section 10(23C)(iv) for Tax Exemption; Must Follow Strict Income and Investment Rules</h1> The Central Government has notified 'Khelaghar, Palm Avenue, Kolkata' under clause (23C)(iv) of section 10 of the Income-tax Act, 1961 for the assessment years 2002-2003 to 2004-2005. The notification stipulates that the entity must apply or accumulate its income exclusively for its established objectives, invest funds only in specified forms, and maintain separate accounts for any incidental business activities. Additionally, the entity must file regular income tax returns and, upon dissolution, transfer surplus assets to a similar charitable organization.