The Ministry of Finance on October 19, 2023, issued a notification regarding the specified income of the Punjab Dental Council, Mohali (PAN: AAAJP0976C).
The following specified income arising to that council has been stated, namely:
• Receipt of Registration/Renewal received from Doctors
• Interest income on accumulated surplus in the shape of F.D.R.s
This notification shall be effective subject to the conditions that Punjab Dental Council, Mohali:
• It shall not engage in any commercial activity;
• The activities and the nature of the specified income shall remain unchanged throughout the financial years; and
• It 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 assessment years 2022-2023 and 2023-2024 relevant to the financial years 2021-2022 and 2022-2023.
[Notification No S.O. 4577(E)]
