CBDT Grants Income Tax Exemption for Karnataka State Horticulture Development Agency u/s 10(46)

The CBDT has also granted income tax exemption to the Karnataka State Horticulture Development Agency (KSHDA) under Section 10(46) of the Income Tax Act. The exemption will cover income received by the agency for promoting horticulture and related agricultural activities in Karnataka. This decision is aimed at encouraging the development of horticultural activities and sustainable farming practices in the state, in line with national agricultural goals. By exempting the KSHDA from tax, the government intends to foster the growth of the agricultural sector and support regional development through efficient resource utilization.