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<h1>Punjab Skill Development Mission Society Exempt from Specified Income u/s 10(46) of Income-tax Act, 1961.</h1> The Central Government has notified that the 'Punjab Skill Development Mission Society, Chandigarh,' a society constituted by the Government of Punjab, is exempt from specified income under Section 10(46) of the Income-tax Act, 1961. This exemption applies to grants and contributions from government bodies, CSR funds, service or administrative charges, and interest on bank deposits. The exemption is contingent upon the society not engaging in commercial activities, maintaining the nature of its specified income, and filing income returns as required. This notification is applicable for assessment years 2021-2022 to 2025-2026. No individuals are adversely affected by this retrospective application.