CBDT Notifies Urban Improvement Trust for Income Tax Exemption under Section 10(46A):

CBDT Notifies Urban Improvement Trust for Income Tax Exemption under Section 10(46A) The Central Board of Direct Taxes (CBDT) has recently issued a notification (No. 25/2026) on March 24, 2026, regarding income tax exemption. The Central government, using its power under section 10 of the Income-tax Act, 1961 (43), notifies "Urban Improvement Trust, Sikar" for income tax exemption.

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The Urban Improvement Trust is established under the Rajasthan Urban Improvement Act, 1959, for the said clause. However, this tax benefit will only be made available if the trust continues to be constituted under the Rajasthan Urban Improvement Act, 1959, with one or more purposes mentioned in sub-clause (a) of clause (46A) of section 10 of the Income Tax Act. Note: This notification will be effective from the assessment year 2026-27, subject to the above condition.