CBDT Exempts 1948 formed Bengaluru Central Silk Board from Income Tax u/s 10(46)

The CBDT has exempted the Bengaluru Central Silk Board from income tax under Section 10(46). The exemption recognizes the board as a statutory body involved in welfare activities, allowing it to benefit from tax relief. This decision highlights the government’s support for institutions working toward public welfare and development. By granting the exemption, the CBDT acknowledges the board’s role in promoting the silk industry in India. The move also strengthens the regulatory framework for such institutions, ensuring they can operate without the financial burden of taxation.