CBDT grants Income Tax Exemption to 4 Govt Bodies u/s 10(46)

The Central Board of Direct Taxes (CBDT) granted income tax exemptions to four government bodies under Section 10(46) of the Income Tax Act. The exemptions apply to the National Biodiversity Authority, the National Financial Reporting Authority, the National Skill Development Corporation, and the National Council for Teacher Education. These exemptions are intended to support the activities of these bodies by reducing their tax liabilities, thereby enabling them to allocate more resources towards their respective mandates. The notification outlines the specific conditions and periods for which the exemptions are applicable.