Exemption from specified income U/s 10(46) of IT Act 1961 – ‘The Commissioners for the Rabindra Setu, Kolkata’ - 04/2025 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 04/2025 New Delhi, the 3rd January, 2025 S.O. 48(E). In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961) , the Central Government hereby notifies for the purposes of the said clause, The Commissioners for the Rabindra Setu, Kolkata (PAN AABTT2734P), a body established under the Howrah Bridge (Amendment) Act, 1965 (West Bengal Act XII of 1965), in respect of the following specified income arising to that body, namely: (a) Proceeds from Taxes of Municipalities / Municipal Corporation and Railways; (b) Miscellaneous income like Rental and Maintenance charge, income for laying optical fibre cable, way leave rent, Damage cost recoverable; and (c) Interest earned on bank deposits. 2. This notification shall be effective subject to the conditions that The Commissioners for the Rabindra Setu, Kolkata :- (a) shall not engage in any commercial activity; (b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and (c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961 . 3. This notification shall be deemed to have been applied for assessment years 2019-2020 to 2023-2024 relevant for the financial years 2018-2019 to 2022-2023 respectively. [F. No. 196/1/2023-ITA-I] ASHWANI KUMAR, Under Secy. Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification.