The CBDT vide Notification No. 39/2025 dated April 25, 2025, grants income tax exemption under Section 10(46) to the Mysore Palace Board (PAN: AAAGM0484M) for specified income sources, including income from the palace, fees, rent from government agencies, and interest on bank deposits. The exemption is subject to conditions such as no commercial activity and unchanged activities. The notification applies retroactively for assessment years 2024-25 to 2025-26 and prospectively for assessment years 2026-27 to 2028-29.
The Notification can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/04/CBDT_-Notification-No.-39_2025.pdf
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