https://www.taxtmi.com/circulars?id=4974 Clarification requires that notional income be included in total income but shown separately so that application of income for exemption under section 10(23C)(iv) and (v) is tested on actual income only; the phrase 'deemed to have been utilised' excludes certain income categories when assessing application/accumulation requirements. The form also requires disclosure of transactions with interested persons and information akin to section 11(3) solely to verify compliance with the third proviso to sub clause (v), without applying sections 11 and 13 in full. en-us Mon, 19 Mar 1990 00:00:00 +0530 Fri, 08 Aug 2008 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4974 Clarification requires that notional income be included in total income but shown separately so that application of income for exemption under section 10(23C)(iv) and (v) is tested on actual income only; the phrase 'deemed to have been utilised' excludes certain income categories when assessing application/accumulation requirements. The form also requires disclosure of transactions with interested persons and information akin to section 11(3) solely to verify compliance with the third proviso to sub clause (v), without applying sections 11 and 13 in full. Circulars Income Tax Mon, 19 Mar 1990 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4974