Karnataka Urban Water Supply & Drainage Board receives tax exemption under Section 10(46) for specified income streams until 2028-29. (46)

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....The CBDT has notified the Karnataka Urban Water Supply & Drainage Board, Bangalore (PAN AAATK5837F), a state government trust, for exemption from income tax under section 10(46) of the Income-tax Act, 1961. The specified exempt income includes establishment charges, administrative fees, supervision fees, water charges, rent, forfeited earnest money deposits, penalties, sale of scrap, and interest earned on bank deposits. The exemption applies for assessment years 2024-2025 to 2028-2029 (financial years 2023-2024 to 2027-2028) subject to conditions that the Board shall not engage in commercial activity, maintain unchanged activities and income nature, and file returns as required under section 139(4C)(g).....