Tax exemption for specified welfare-board income depends on non-commercial activities, prescribed return filing, and continuity of qualifying income. Tax exemption under Schedule III read with section 11 of the Income-tax Act, 2025 applies to specified income of the Kerala Headload Workers Welfare Board, Kochi, including government grants and loans, statutory levies, registration fees, employer deposits, member contributions, specified wages, and related interest. The Board must not undertake commercial activity, must file its income-tax return as prescribed, and must maintain unchanged activities and specified income. Non-compliance leads to withdrawal of exemption and proceedings under the Act.