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of <h1>Central Government exempts Karnataka Urban Water Supply Board's specified income from tax under section 10(46) of Income-tax Act.</h1> The Central Government has issued Notification No. 24/2025 under section 10(46) of the Income-tax Act, 1961, exempting specified income of the Karnataka Urban Water Supply & Drainage Board, Bangalore, from income tax. The exempted income includes establishment and administrative charges, rent, forfeiture of earnest money, penalties, sale of scrap, and interest on bank deposits, as per the Karnataka Urban Water Supply and Drainage Board Act, 1973. The exemption is valid for assessment years 2024-2025 to 2028-2029, provided the Board does not engage in commercial activities and files income returns as required.
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