Home Audit & Assurance CBDT Notifies Uttar Pradesh Expressways Industrial Development Authority for Exemption under Section 10(46) of IT Act

CBDT Notifies Uttar Pradesh Expressways Industrial Development Authority for Exemption under Section 10(46) of IT Act

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CBDT Notifies Uttar Pradesh Expressways Industrial Development Authority for Exemption under Section 10(46) of IT Act

CBDT Notifies Uttar Pradesh Expressways Industrial Improvement Authority for Exemption beneath Part 10(46) of IT Act

The Central Board of Direct Taxes (CBDT) has notified Uttar Pradesh Expressways Industrial Improvement Authority for Exemption beneath Part 10(46) of Revenue Tax Act, 1961 through issuing Notification.

The Notification Said as, “In train of the powers conferred by clause (46) of part 10 of the Revenue-tax Act, 1961 (43 of 1961), the Central Authorities hereby notifies for the needs of the stated clause, ‘Uttar Pradesh Expressways Industrial Improvement Authority’ (PAN AAALU0121E), an Authority constituted by the State authorities of Uttar Pradesh, in respect of the required revenue arising to that Authority.”

The next specified revenue arising to that Authority:

(a) grants obtained from the state authorities;

(b) moneys obtained from the disposal of land, constructing and different properties, movable and immovable;

(c) moneys obtained by the use of hire & charges or some other expenses from the disposal of land, constructing and different properties, movable and immovable;

(d) Revenue earned from Tender Charges, Doc Charges, License Charges; and

(e) Curiosity earned on funds deposited within the banks and on (a) to (d) above.

This notification shall be efficient topic to Uttar Pradesh Expressways Industrial Improvement Authority:-

(a) shall not interact in any industrial exercise;

(b) actions and the character of the required revenue shall stay unchanged all through the monetary years; and

(c) shall file return of revenue in accordance with the availability of clause (g) of sub-section (4C) of part 139 of the Revenue-tax Act, 1961.

This notification shall be deemed to have been utilized for the evaluation 12 months 2023-2024 related for monetary 12 months 2022-2023.

For Official Notification Obtain PDF Given Under:

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