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<h1>Karnataka State Unorganised Workers Social Security Board Gains Income Tax Exemption for Specified Income u/s 10(46.</h1> The Central Government, under section 10(46) of the Income-tax Act, 1961, has notified the 'Karnataka State Unorganised Workers Social Security Board', Bengaluru, for specified income exemptions. The exempted income includes grants from the State Government and interest earned on these grants. Conditions for this notification include the Board not engaging in commercial activities, maintaining the nature of specified income, and filing income returns as per section 139(4C)(g). This notification applies retrospectively for assessment years 2017-18 and 2018-19 and prospectively for 2019-20 to 2021-22, with no adverse effects on any person.