Skip to content
Laws and sections by number or title, due dates, pages, and updates.
The Central Government notifies specified income of the Yamuna Expressway Industrial Development Authority under clause (46) of section 10 of the Income-tax Act, 1961. The exemption applies to grants from the State Government, moneys and rent from the disposal of properties, bank interest, and interest or penalties on deferred payments from allottees. The authority must not engage in any commercial activity, must keep its activities and specified income unchanged, must file the return of income under section 139(4C)(g), and must file an audit report with a chartered accountant certificate. The notification applies retrospectively for the assessment years 2014-2015, 2015-2016, 2016-2017, 2017-2018, and 2018-2019.
What you must do
Key dates
Law this touches
Who is affected
Ask about this notification
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 24th December, 2020
S.O. 4684(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, ‘Yamuna Expressway Industrial Development Authority’, (PAN AAALT0341D), an authority constituted by the State Government of Uttar Pradesh, in respect of the following specified income arising to that Authority, namely:-
[Notification No. 91/2020 /F.No. 300196/4/2014-ITA-I] GULZAR AHMAD WANI, Under Secy.
Explanatory Memorandum
This notification is issued in view of the Order of the Hon’ble High Court of Delhi in matter of Yamuna Expressway Industrial Development Authority V. Union of India and Others [W.P. (Civil) No. 5603 of 2020], dated 23rd Day of August, 2020. It is certified that by giving retrospective effect to the notification no person interest will adversely get affected.
