Ministry of Finance, through Notification No. 143/2025 dated 2 September 2025, has notified ‘The Commissioners for the Rabindra Setu’, Kolkata (PAN AABTT2734P), under clause (46) of section 10 of the Income-tax Act, 1961. The body, established under the Howrah Bridge (Amendment) Act, 1965, will receive income tax exemption on specific sources of income. These include proceeds from municipal and railway taxes, miscellaneous income such as rental and maintenance charges, fees for laying optical fibre cables, way leave rent, recoverable damage costs, and interest earned on bank deposits. The exemption is subject to conditions that the body does not engage in commercial activities, maintains the specified nature of income, and files income tax returns in accordance with section 139(4C)(g) of the Act. The notification applies retrospectively for assessment years 2024-25 to 2028-29, covering financial years 2023-24 to 2027-28. The explanatory memorandum clarifies that no person is adversely affected by this retrospective application.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 143/2025-Income Tax | Dated: 2nd September, 2025
S.O. 4009(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, ‘The Commissioners for the Rabindra Setu’ Kolkata, (PAN AABTT2734P), a body established under the Howrah Bridge (Amendment) Act, 1965 (West Bengal Act XII of 1965), in respect of the following specified income arising to that body, namely:
(a) Proceeds from Taxes of Municipalities / Municipal Corporation and Railways;
(b) Miscellaneous income from Rental and Maintenance charge, income for laying optical fibre cable, way leave rent, Damage cost recoverable; and
(c) Interest earned on bank deposits.
2. This notification shall be effective subject to the conditions that ‘The Commissioners for the Rabindra Setu’ Kolkata: –
(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, 2025-26, 2026-27, 2027- 28 & 2028-29 relevant to financial years 2023-24, 2024-25, 2025-26, 2026-27 & 2027-28 respectively.
[Notification No. 143/2025/F. No. 300196/12/2025-ITA-I]
MEENAKSHI SINGH, Dy. Secy.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
