Central Board of Direct Taxes (CBDT) issued notification no. 143/2025 dated 02.09.2025 to provide exemption u/s 10(46) to ‘The Commissioners for the Rabindra Setu’ Kolkata, (PAN AABTT2734P), a body established under the Howrah Bridge (Amendment) Act, 1965 (West Bengal Act XII of 1965), in respect of the following specified income arising to that body, namely:
(a) Proceeds from Taxes of Municipalities / Municipal Corporation and Railways;
(b) Miscellaneous income from Rental and Maintenance charge, income for laying optical fibre cable, way leave rent, Damage cost recoverable; and
(c) Interest earned on bank deposits.
This notification shall be effective subject to the conditions that ‘The Commissioners for the Rabindra Setu’ Kolkata: –
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and
(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.
This notification shall be deemed to have been applied for assessment years 2024-25, 2025-26, 2026-27, 2027-28 & 2028-29 relevant to financial years 2023-24, 2024-25, 2025-26, 2026-27 & 2027-28 respectively.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
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