The Central Board of Direct Taxes (CBDT) on November 24, 2023, issued a notification for the purposes of the ‘Maharashtra Council of Homoeopathy’ (PAN AAATM8895K)’ a Board established under the Maharashtra Homoeopathy Practitioners’ Act, 1960 by the Government of Maharashtra, in respect of the certain specified income arising to said Authority.
The following are the specified income arising to the Authority namely: -
• Fees received from members/doctors
• Fees received from professional seminars/conferences
• Interest earned on bank deposits
This notification shall be effective subject to the conditions that Maharashtra Council of Homoeopathy namely: -
• Shall not engage in any commercial activity
• Activities and the nature of the specified income shall remain unchanged throughout the financial years
• 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 2023-24 relevant for the financial year 2022-2023.
[Notification No. S.O. 5045(E)]
