Income of Himachal Pradesh Board of School Education Exempt from Income Tax u/s 10(46)

The Central Board of Direct Taxes (CBDT) has issued a notification on June 16, 2025, in which the central government has granted income tax exemption to the Himachal Pradesh Board of School Education (HPBOSE), Dharamshala, for some types of income. These incomes are as follows:

• Grants or advances, or receipts received from the Himachal Pradesh State Government.
• Fees or charges imposed or collected as per the Himachal Pradesh Board of School Education Act, 1968
• Income from selling books or other educational study material
• Interest earned on bank deposits

This exemption applies for the assessment years 2020-21 to 2023-24, and the Financial year 2019-20 to 2022-23. However, there are certain conditions that must be satisfied by the board to qualify for the exemption on the above income types. These are as follows:

• It is not involved in any commercial activities.
• The activities and the nature of income must remain the same throughout the financial year
• It files its income tax return as required under the Income Tax Act.

Refer to the official notification for more information.