Central Government Notifies Moradabad Development Authority Under Section 10(46A) of the Income-tax Act, 1961

Last updated: 23 July 2025

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The Central Government has officially notified the Moradabad Development Authority under Section 10(46A) of the Income-Tax Act, 1961. This notification grants the authority specific tax benefits. The exemption is effective from the assessment year 2024-2025 and is contingent upon the authority remaining constituted under the Uttar Pradesh Urban Planning & Development Act, 1973, and fulfilling certain specified purposes.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 22nd July, 2025

S.O. 3362(E).— In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961 (43 of 1961), (hereinafter referred to as “the Income-tax Act”), the Central Government hereby notifies the “Moradabad Development Authority” (PAN: AAJFM7731M) (hereinafter referred to as “the assessee”), an authority constituted under the Uttar Pradesh Urban Planning & Development Act, 1973 (President’s Act No. 11 of 1973), for the purposes of the said clause.

2. This notification shall be effective from the assessment year 2024-2025, subject to the condition that the assessee continues to be an authority constituted under the Uttar Pradesh Urban Planning & Development Act, 1973 (President’s Act No. 11 of 1973) with one or more of the purposes specified in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act.

[Notification No. 121/2025/F. No. 300195/46/2024-ITA-I]
MEENAKSHI SINGH, Dy. Secy.

FAQ :

The Moradabad Development Authority is being notified under sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961.

This notification is effective from the assessment year 2024-2025.

The condition is that the Moradabad Development Authority continues to be an authority constituted under the Uttar Pradesh Urban Planning & Development Act, 1973, with one or more of the purposes specified in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act.

The Moradabad Development Authority is constituted under the Uttar Pradesh Urban Planning & Development Act, 1973 (President’s Act No. 11 of 1973).

The PAN of the Moradabad Development Authority is AAJFM7731M.