CBDT Notifies Income Tax Exemption To Maharashtra Council Of Homoeopathy

The Central Board of Direct Taxes (CBDT) has notified the income tax exemption to the Maharashtra Council of Homoeopathy.

The Board empowered under section 10 (46) of the Income-tax Act, 1961 has exempted the Maharashtra Council of Homoeopathy which is a Body established under clause No 14 of the Maharashtra Homoeopathy Practitioners’ Act, 1960 by the Maharashtra Government from income tax.

The income tax exemption is applicable on fees received from members/doctors; fees received from professional seminars/conferences; and interest earned on bank deposits.

The exemption shall be subjected to various conditions.

Firstly, the council shall not engage in any commercial activity.

Secondly, activities and the nature of the specified income shall remain unchanged throughout the financial years.

Lastly, shall file the return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.

This notification shall be deemed to have been applied for the assessment year 2023-2024 and relevant for the financial year 2022-2023.

Notification No.101/2023

Date: 24.11.2023

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