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The Central Government notifies specified income of the Kandla Special Economic Zone Authority under clause (46) of section 10 of the Income-tax Act, 1961. The authority receives this tax exemption for lease rent, receipts from I-Card and permit fees, auction amounts for vacant plots or buildings, transfer charges, building plan processing fees, site usage and water charges, staff quarters license fees, and interest accrued on these items. The authority must not engage in any commercial activity. The activities and the nature of the specified income must remain unchanged throughout the financial years. The authority files a return of income under clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961. The notification applies for the assessment years 2018-2019 through 2022-2023.
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MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION 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:-
[Notification No . 47/2018/ F.No. 300196/35/2017-ITA-I] VINAY SHEEL GAUTAM, Under Secy.
