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of <h1>Section 10(46): Tax exemption for government trust for animal husbandry and dairying on specified incomes, subject to conditions</h1> The Central Government notifies, under section 10(46) of the Income-tax Act, that a government-constituted trust established for animal husbandry and dairying is exempt from tax on specified incomes: guarantee fees from eligible lending institutions, income from mutual funds, miscellaneous income, and interest from banks/financial institutions. The exemption is conditional on the trust not engaging in commercial activity, maintaining the nature of the specified incomes, and filing returns as required under section 139(4C)(g). The notification is effective retrospectively for assessment year 2025-26 and applies to assessment years 2026-27 through 2029-30; the memorandum states no adverse effect from retrospective application.
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