Income Tax: The Central Government has exempted the Karnataka State Horticulture Development Agency (KSHDA) from income tax on specific income (07.01.2025)

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Income Tax:

The Central Government has exempted the Karnataka State Horticulture Development Agency (KSHDA) from income tax on specific income, including:

  1. Grants-in-aid from the Central and State Governments.
  2. Revenue from horticulture activities.
  3. Interest on bank deposits.

 

Conditions: KSHDA must not engage in commercial activities, its income and activities should remain unchanged, and it must file income returns as per the Income-tax Act. The said exemption is available from AY 2021-22 to AY 2024-25.

[Notification No. 5/2025 dated 03.01.2025]