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<h1>Central government exempts metropolitan water board under sub-clause (b) of clause (46A), section 10 Income-tax Act from specified income AY2024-25 -25</h1> The Central Government notifies a metropolitan water supply and sewerage board constituted under a state Act as an entity eligible under sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961, for exemption of specified income, effective from assessment year 2024-25. The exemption is conditional on the board continuing to be constituted under the relevant state Act and carrying one or more purposes specified in sub-clause (a) of clause (46A). The notification states no person is adversely affected by its retrospective effect.