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of <h1>Central Government exempts specified incomes of Hyderabad Metropolitan Water Supply and Sewerage Board u/s 10(46) of Income-tax Act, 1961.</h1> The Central Government, under Section 10(46) of the Income-tax Act, 1961, notifies the 'Hyderabad Metropolitan Water Supply and Sewerage Board,' constituted by the Government of Andhra Pradesh, regarding specified incomes exempt from tax. These incomes include grants from the state government, water and sewerage cess, charges related to water connections, penalties on delayed payments, income from water supply via tankers, sale of tender forms, rental income, and interest on deposits. The board must not engage in commercial activities, maintain the nature of income, and file tax returns as required. This notification applies retrospectively for assessment years 2017-18 to 2021-22.
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