CBDT Grants Section 10(46A) Exemption to Yamuna Expressway Authority:

CBDT Grants Section 10(46A) Exemption to Yamuna Expressway Authority

The Ministry of Finance, the Department of Revenue, recently issued a notification on 18th June, 2025, stating the Central Government, in exercise of its powers granted under the sub-clause (b) of clause (46A) of section 10 of the Income Tax Act, 1961 (43 of 1961), (hereinafter referred to as “the Income-tax Act”), which allows some entities to stand exempted from paying income tax under certain conditions.

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According to the notification, the government has announced that the Yamuna Expressway Industrial Development Authority, located in Greater Noida and registered with the Permanent Account Number (PAN) AAALT0341D, shall stand exempted from paying tax under the said clause. From now onwards, this authority will be referred to as "the assessee" in this notification.

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This exemption will be effective from the assessment year 2025-26. Although, the exemption will be made effective under a condition: the authority must continue to operate under the Uttar Pradesh Industrial Area Development Act (No. 6 of 1976), and should sternly continue to carry out one or more of the specific purposes listed in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act.