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of <h1>Central Government Recognizes 'Shree Nasik Panchavati Panjrapole, Mumbai' Under Section 10(23C)(v) for Tax Exemption for 1998-2001.</h1> The Central Government has notified 'Shree Nasik Panchavati Panjrapole, Mumbai' under clause (23C)(v) of section 10 of the Income-tax Act, 1961, for assessment years 1998-99 to 2000-2001. The notification mandates that the organization must use its income solely for its established objectives, restricts investment to specific forms as per section 11(5), and requires business activities to be incidental with separate accounting. The organization must file regular income tax returns and, upon dissolution, transfer surplus assets to a similar charitable entity.
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