Food Safety Standards Authority receives income tax exemption under section 10(46A)(b) effective assessment year 2026-2027

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....The Central Board of Direct Taxes issued Notification No. 68/2025 granting income tax exemption to Food Safety and Standards Authority of India under section 10(46A)(b) of the Income Tax Act, 1961. The Authority, constituted under the Food Safety and Standards Act, 2006, receives exemption from specified income effective assessment year 2026-2027. The exemption remains conditional upon the Authority maintaining its statutory status under the Food Safety and Standards Act, 2006 and fulfilling purposes specified in section 10(46A)(a) of the IT Act. This notification enables the regulatory body to claim tax exemption on qualifying income streams pursuant to its statutory functions and objectives.....