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<h1>Bahai's of India Recognized Under Section 10(23C)(v) for Tax Exemption, Subject to Specific Conditions and Obligations.</h1> The Central Government has notified the 'National Spiritual Assembly of the Bahai's of India' under clause (23C)(v) of section 10 of the Income-tax Act, 1961, applicable for the assessment years 1998-99 to 2000-2001. The notification requires the organization to use its income exclusively for its established objectives, restricts investment of funds to specified forms, mandates separate accounting for any incidental business income, requires regular income tax filings, and stipulates that in case of dissolution, surplus assets must be transferred to a similar charitable organization.