U/s 10(46) of the Income-tax Act, 1961 Central Government notifies ‘Kandla Special Economic Zone Authority’, Kutch, an authority constituted by the Central Government, respect of the specified income arising to that authority - 47/2018 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) ( CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 47/2018 New Delhi, the 14th September, 2018 S.O. 4861 (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, Kandla Special Economic Zone Authority , Kutch, an authority constituted by the Central Government, respect of the following specified income arising to that authority, namely:- (a) Lease rent (charged as per Government prescribed rate) including interest and penalty; (b) Receipts from I-Card and permit fees/ gate pass; (c) Auction/Bid amount in respect of Plots/Buildings which fall vacant; (d) Transfer charges in respect of Plot/Building; (e) Processing fee for approval of Building Plans; (f) Site Usage charges from Service providers including user charges water charges (including interest and penalty thereon); (g) License fee for Staff Quarters; and (h) Interest accrued on (a) to (g) above. 2. This notification shall be effective subject to the conditions that Kandla Special Economic Zone Authority, Kutch,- (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 the assessment year 2018-2019, and shall apply with respect to the assessment years 2019-2020, 2020-2021, 2021-2022 and 2022-2023. [F.No. 300196/35/2017-ITA-I] VINAY SHEEL GAUTAM, Under Secy