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<h1>International Sericultural Commission in Bengaluru Exempt from Taxation Under Income-tax Act, Section 10(42.</h1> The Central Government has issued Notification No. 46/2019 under section 10(42) of the Income-tax Act, 1961, recognizing the 'International Sericultural Commission' in Bengaluru as a body constituted under a treaty. This notification exempts specified income of the commission from taxation, including membership fees from member countries, donations or grants from international bodies, registration fees for international events, and interest earned on these incomes. The notification applies retrospectively from the assessment year 2014-15 onwards, and it is confirmed that no individuals will be adversely affected by this retrospective application.