The CBDT has issued Notification No. 156/2025, dated November 04, 2025, notifying the Karnataka Housing Board (PAN: AAAJK0398K) as an eligible authority for income-tax exemption under sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961. This exemption is effective from the assessment year 2024–25, provided the Karnataka Housing Board continues to be constituted under the Karnataka Housing Board Act, 1962 (Act No. 10 of 1963), and fulfills one or more of the purposes specified in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act.
The notification specifies that this exemption will not adversely affect any person due to its retrospective effect.
The Notification can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/11/Notification-us-1046A-of-the-Income-Tax-Act-1961-in-the-case-of-Karnataka-Housing-Board.pdf
