Income Tax: The Central Board of Direct Taxes (CBDT) has notified ‘Mysore Palace Board’, a Board established under the Mysore Palace (Acquisition and Transfer) Act, 1998 for the purposes of clause (46) of section 10 of the Income-tax Act, 1961. The exemption covers income generated from palace properties, statutory fees, government rent, and bank interest. It will be effective from the Assessment Year 2024-25 to 2028-29.(28.04.2025)

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Income Tax 

The Central Board of Direct Taxes (CBDT) has notified ‘Mysore Palace Board’, a Board established under the Mysore Palace (Acquisition and Transfer) Act, 1998 for the purposes of clause (46) of section 10 of the Income-tax Act, 1961. The exemption covers income generated from palace properties, statutory fees, government rent, and bank interest. It will be effective from the Assessment Year 2024-25 to 2028-29.

 

[Notification No. 39/2025 dated 24.04.2025]