![Income Tax Exemption to West Bengal Municipal Development Fund Trust Under Section 10(46) [Read Notification]](/_next/image?url=https%3A%2F%2Fstudycafe.in%2Fwp-content%2Fuploads%2F2025%2F08%2FCBDT-Notification.jpg&w=3840&q=75)
Income Tax Exemption to West Bengal Municipal Development Fund Trust Under Section 10(46) [Read Notification]
The Central Board of Direct Taxes (CBDT) through the Ministry of Finance under Section 10 of the Income Tax Act (43 of 1961) issued a notification dated August 1, 2025 to the West Bengal Municipal Development Fund Trust.
1.West Bengal Municipal Development Fund Trust is a trust constituted by the State Government of West Bengal in respect of the following specified income arising to the Trust:-
- Interest from Bank Deposits
- Interest on Term loan to Urban Local Bodies
- Upfront processing fees
2.This notification will be effective only on the following conditions:
West Bengal Municipal Development Fund Trust-
- Will not engage in any commercial activity
- Activities and the nature of the specified income will remain unchanged throughout the financial years and
- Should file a return of income in accordance with the provision of sub-section (4C) (g) of section 139 of the Income tax Act, 1961.
3.This notification will be applicable for financial years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and will also apply with respect to financial year 2025-26.
Refer to the below mentioned notification for complete information: