Section - 10(46A) (of Income Tax Act, 1961), Income-tax Act
Section - 10(46A) (of Income Tax Act, 1961), Income-tax Act
Incomes not included in total income.
Following clauses (46A) and (46B) shall be inserted after clause (46) of section 10 (of Income Tax Act, 1961) by the Finance Act, 2023, w.e.f. 1-4-2024 :
(46A) any income arising to a body or authority or Board or Trust or Commission not being a company which—
(a) has been established or constituted by or under a Central Act or State Act with one or more of the following purposes, namely:--
(i) dealing with and satisfying the need for housing accommodation;
(ii) planning, development or improvement of cities towns and villages;
(iii) regulating or regulating and developing any activity for the benefit of the general public; or
(iv) regulating any matter for the benefit of the general public arising out of the object for which it has been created; and
(b) is notified by the Central Government in the Official Gazette for the purposes of this clause;
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