![Madhya Pradesh Professional Examination Board notified for Income Tax Exemption u/s 10(46) [Read Notification]](https://digitalaiaccountant.com/wp-content/uploads/2024/01/Madhya-Pradesh-Professional-Examination-Board-notified-for-Income-Tax-Exemption.jpg)
Madhya Pradesh Professional Examination Board notified for Income Tax Exemption u/s 10(46) [Read Notification]
The Central Board of Direct Taxes (CBDT) has notified the Madhya Pradesh Professional Examination Board for Income Tax Exemption u/s 10(46) of the Income Tax Act, 1961 via issuing Notification.
The Notification Read as follows:
In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, Madhya Pradesh Professional Examination Board, Bhopal (PAN- AAAGP1792B), a Board constituted by the Madhya Pradesh Government, in respect of the specified income arising to that body.
The following specified income arising to that body, namely:
a) Fees of Examination and Sale of Application Form; and
b) Interest earned on bank deposits.
This notification shall be effective subject to the conditions that Madhya Pradesh Professional Examination Board, Bhopal:-
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and
(c) shall file a 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 relevant to the financial year 2022-2023.
For Official Notification Download PDF Given Below:
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