The Central Board of Direct Taxes (CBDT) on September 29, 2023, issued a notification for the purposes of Punjab Nurses Registration Council (PNRC) (PAN: AAABR0094H), a council constituted by the Government of Punjab.
The following are the income arising to the Council, namely:
• Fees from Nursing students and affiliated nursing institutions; and
• Interest earned on funds deposited in banks including fixed deposits.
The provisions of this notification shall be effective subject to the conditions that Punjab Nurses Registration Council:
• Shall not engage in any commercial activity;
• Activities and the nature of the specified income remain unchanged throughout the financial years; and
• Shall file returns of income in accordance with the provision of clause (g) of sub-section (4C) of section 139, which states “Return of Income” of the Income-tax Act, 1961.
This notification shall be deemed to have been applied for assessment years 2022-2023 and 2023-2024 relevant for the financial years 2021-2022 and 2022-2023 respectively.
[Notification No. 84/2023]
