Section - 10(46) (of Income Tax Act, 1961), Income-tax Act

Any specified income arising to a body or authority or Board or Trust or Commission (by whatever name called) other than those covered under clause (46A) or a class thereof which—

(a) has been established or constituted by or under a Central State or Provincial Act or constituted by the Central Government or a State Government with the object of regulating or administering any activity for the benefit of the general public;

(b) is not engaged in any commercial activity; and

(c) is notified by the Central Government in the Official Gazette for the purposes of this clause.

Explanation.—For the purposes of this clause "specified income" means the income of the nature and to the extent arising to a body or authority or Board or Trust or Commission (by whatever name called) other than those covered under clause (46A) or a class thereof referred to in this clause, which the Central Government may by notification in the Official Gazette specify in this behalf;