The Central Board of Direct Taxes (CBDT) January 02, 2024, issued a notification for the purposes of the Madhya Pradesh Professional Examination Board, Bhopal (PAN- AAAGP1792B) a Board constituted by the Government of Madhya Pradesh, in respect of the certain specified income arising to that body.
The following are the specified income arising to the body namely: -
• Fees of Examination & Sale of Application Form
• Interest earned on bank deposits
This notification shall be effective subject to the conditions that Madhya Pradesh Professional Examination Board, Bhopal 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. 42(E)]
