Full Text
REGD. No. D. L.-33004/99
The Gazette of India
CG-DL-E-24042025-262657
EXTRAORDINARY
PART II-Section 3-Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 1817]
NEW DELHI, THURSDAY, APRIL 24, 2025/VAISAKHA 4, 1947
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 24 April, 2025
S.O. 1850(E). — In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961
(43 of 1961), the Central Government hereby notifies for the purposes of the said clause, 'Mysore Palace Board'
(PAN: AAAGM0484M), a Board established under the Mysore Palace (Acquisition and Transfer) Act, 1998 in respect
of the following specified income arising to the said Board, namely:
(a) Income from Palace or proceeds of any property vested in the Board;
(b) All fees and charges levied by the Board under the Mysore Palace (Acquisition and Transfer) Act,
1998 and forming part of the Board fund;
(c) Rent received from the shops/stalls let out to Government Agencies; and
(d) Interest earned on bank deposits.
2. This notification shall be effective subject to the conditions that Mysore Palace Board-
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income shall remain unchanged throughout the financial
years; and
(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section
139 of the Income-tax Act, 1961.
3. This notification shall be deemed to have been applied for assessment years 2024-25 to 2025-26 relevant for
the financial years 2023-24 to 2024-25 and shall be applicable for assessment years 2026-27 to 2028-29 relevant for the
financial years 2025-26 to 2027-28.
[Notification No. 39/2025/F. No. 300196/94/2024-ITA-I]
ASHWANI KUMAR, Under Secy.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
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and Published by the Controller of Publications, Delhi-110054.