604 : Notification: 604 Date of Issue: 3/2/2000

Notification: 604 Date of Issue: 3/2/2000

Notification: 604

Section(s) Referred: 10(23C)(v)

Statute: INCOME TAX

Date of Issue: 3/2/2000

In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies "Shri Krishna Janmasthan Seva Sansthan, Mathura", for the purpose of the said sub-clause for the assessment years 1999-2000 to 2001-2002 subject to the following conditions, namely:--

(i) the assessee will apply its income, or accumulate for application, wholly and exclusively to the objects for which it is established;

(ii) the assessee will not invest or deposit its funds (other than voluntary contributions received and maintained in the form of jewellery, furniture, etc.) for any period during the previous years relevant to the assessement years mentioned above otherwise than in any one or more of the forms of modes specified in sub-section (5) of section 11;

(iii) this notification will not apply in relation to any income being profits and gains of business is incidental to the attainment of the objectives of the assessee and separate books of account are maintained in respect of such business;

(iv) the assessee will file regularly its return of income before the income-tax authority in accordance with the provision of the Income-tax Act, 1961.

(Notification No. 11225/F.No. 197/39/99-ITA-I]