CBDT Notifies Income Tax Exemption To Punjab Nurses Registration Council
The Central board of Direct Taxes (CBDT) has notified the income tax exemption to Punjab Nurses Registration Council under section 10 (46) of the Income-tax Act, 1961.The Punjab Nurses Registration Council which is a council constituted by the Government of Punjab. The income tax exemption shall be allowed on fees from Nursing students and affiliated nursing institutions; and...
The Central board of Direct Taxes (CBDT) has notified the income tax exemption to Punjab Nurses Registration Council under section 10 (46) of the Income-tax Act, 1961.
The Punjab Nurses Registration Council which is a council constituted by the Government of Punjab. The income tax exemption shall be allowed on fees from Nursing students and affiliated nursing institutions; and interest earned on funds deposited in banks including fixed deposits.
The notification shall be effective subject to various conditions. Punjab Nurses Registration Council shall not engage in any commercial activity. The activities and the nature of the specified income remain unchanged throughout the financial years. Punjab Nurses Registration Council shall file returns of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.
Notification No. 84/2023
Date: 29/09/2023
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