CBDT Notifies Tax Exemption to Jalandhar Development Authority u/s 10(46A) of Income-tax Act:

CBDT Notifies Tax Exemption to Jalandhar Development Authority u/s 10(46A) of Income-tax Act The Central Board of Direct Taxes (CBDT) under the Ministry of Finance recently issued an official notification (No. 167/2025), granting tax exemption to the Jalandhar Development Authority. The central government has taken this action in exercise of powers granted under Section 10 of the Income-tax Act, 1961 (43). The authority, Jalandhar Development Authority, is established under the Punjab Regional and Town Planning and Development Act, 1995, for the purpose of the said clause.

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This notification will be effective from the assessment year 2024-25, subject to the condition that the assessee continues to be an authority constituted under the Punjab Regional and Town Planning and Development Act, 1995, with one or more of the purposes mentioned in Section 10 (clause 46A) of the Income-tax Act.