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Income Tax Exemption under Section 10(46) of Income Tax Act, 1961

Eligible Assessee

Any body, authority, Board or Trust

 

Nature of Income

Specified income

Amount Exempt

Specified amount

 

Conditions laid down for Tax Exemption

  1. Such body, authority, etc. should be formed under Central, State or Provincial Act or by the Central or State Government.
  2. The such body should be established for regulating or administrating activities for benefit of general public.
  3. The nature and the extent of income exempt, shall be specified by the Central Government.

 

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