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Informative

CBDT Notifies Income Tax Exemption for AICTE, HPCB, and WB Municipal Debt Fund Trust u/s 10(46)

Update / Judgement Date

03 Aug 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Income TaxPSU's AND Govt. Undertakings

The Central Board of Direct Taxes (CBDT) has notified an income tax exemption for the All India Council for Technical Education (AICTE), the Himachal Pradesh Co-operative Bank (HPCB), and the West Bengal Municipal Debt Fund Trust under Section 10(46). This notification provides a significant tax relief to these bodies, recognizing their public purpose and their role in social and economic development. The move will free up funds for these institutions to continue their work without a tax burden.