Exemption from specified income U/s 10(46) -‘Greater Noida Industrial Development Authority’ an Authority constituted by the state government of Uttar Pradesh notified. - 18/2023 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 18/2023 New Delhi, the 10th April, 2023 S.O. 1687(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, Greater Noida Industrial Development Authority , (PAN AAALG0129L), an Authority constituted by the state government of Uttar Pradesh, in respect of the following specified income arising to that Authority, namely: (a) Moneys received from the disposal of land, building, and other properties, movable and immovable; (b) Moneys received by the way of rent fees or any other charges from the disposal of land, building, and other properties, movable and immovable; (c) The amount of interest/penalties received on the deferred payment received from the allottees of various movable or immovable properties; (d) Water, sewerage and other municipal charges from the allottees of various immovable properties; and (e) Interest earned on (a) to (d) above. 2. This notification shall be effective subject to Greater Noida 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 . 3. This notification shall be deemed to have been applied for the financial years 2020-2021 to 2022-2023. [F.No.300196/27/2021-ITA-I] SOURABH JAIN, Under Secy.