India - Income Tax Act 2010 - Saarc

S. 10(23D) I.T. ACT, 1961 1.86medical institution referred to in the first proviso makes an applicationon or after the 1st day of June, 2006 for the purposes of grant ofexemption or continuance thereof, such application shall be 91 [madeon or before the 30th day of September of the relevant assessmentyear] from which the exemption is sought :]92[Provided also that any anonymous donation referred to in section115BBC on which tax is payable in accordance with the provisions ofthe said section shall be included in the total income :]93[Provided also that all pending applications, on which no notificationhas been issued under sub-clause (iv) or sub-clause (v) before the1st day of June, 2007, shall stand transferred on that day to theprescribed authority and the prescribed authority may proceed withsuch applications under those sub-clauses from the stage at whichthey were on that day;]94[(23D) 95 [ 96 [ 97 [subject to the provisions of Chapter XII-E, any income of]—](i) a Mutual Fund registered under the Securities and ExchangeBoard of India Act, 1992 (15 of 1992) or regulations madethereunder;(ii) such other Mutual Fund set up by a public sector bank or a publicfinancial institution or authorised by the Reserve Bank of Indiaand subject to such conditions as the Central Government may,by notification 98 in the Official Gazette, specify in this behalf.]Explanation.—For the purposes of this clause,—(a) the expression “public sector bank” means the State Bank ofIndia constituted under the State Bank of India Act, 1955 (23of 1955), a subsidiary bank as defined in the State Bank ofIndia (Subsidiary Banks) Act, 1959 (38 of 1959), a correspondingnew Bank constituted under section 3 of theBanking Companies (Acquisition and Transfer of Under-91. Substituted for “made at any time during the financial year immediately preceding theassessment year” by the Finance (No. 2) Act, 2009, w.r.e.f. 1-4-2009.92. Inserted by the Finance Act, 2006, w.e.f. 1-4-2007.93. Inserted by the Finance Act, 2007, w.e.f. 1-6-2007.94. Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.95. Substituted for the portion beginning with the words “any income of such Mutual Fund”and ending with the words “specify in this behalf” by the Finance Act, 1995, w.e.f. 1-7-1995.Prior to substitution, the said portion, as amended by the Finance Act, 1988, w.e.f. 1-4-1988,the Direct Tax Laws (Amendment) Act, 1989, w.r.e.f. 1-4-1988 and the Finance Act, 1992,w.e.f. 1-4-1993, read as under :“any income of such Mutual Fund set up by a public sector bank or a public financialinstitution or authorised by the Securities and Exchange Board of India or the ReserveBank of India and subject to such conditions as the Central Government may, bynotification in the Official Gazette, specify in this behalf.”96. Substituted for “any income of—” by the Finance Act, 1999, w.e.f. 1-4-2000.97. Substituted for “any income of” by the Finance Act, 2003, w.e.f. 1-4-2004. Earlier the words“subject to the provisions of Chapter XII-E,” were omitted by the Finance Act, 2002, w.e.f.1-4-2003.98. For notified mutual funds, see Taxmann’s Master Guide to Income-tax Act.