CBDT notifies Yamuna Authority for Income Tax exemption under clause (46) of section 10

The Central Board Of Direct Taxes (CBDT) has notified Yamuna Authority for Income Tax exemption under clause (46) of section 10 via issuing Notification.

The Notification stated as, “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, ‘Yamuna Expressway Industrial Development Authority’, (PAN AAALT0341D), an authority constituted by the State Government of Uttar Pradesh, in respect of specified income arising to that Authority.”

The following specified income arising to that Authority, namely:

(a) Grants received from the State Government;

(b) Moneys received from the disposal of land, building and other properties, movable and immovable;

(c) Moneys received by the way of rent & fees or any other charges from the disposal of land, building and other properties, movable and immovable;

(d) The amount of interest earned on the funds deposited in the banks; and

(e) The amount of interest/penalties received on the deferred payment received from the Allottees of various movable or immovable properties.

This notification shall be effective subject to the conditions that Yamuna Expressway Industrial Development Authority,-

(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.

This notification shall be deemed to have been applied for the financial year 2018-2019 to financial year 2022-2023.

For Official Notification Download PDF Given Below: