The Ministry of Finance, through CBDT Notification No. 167/2025 dated 4 December 2025, has granted tax exemption under Section 10(46A) of the Income-tax Act to the Jalandhar Development Authority. The notification is issued in exercise of the powers under clause (46A), which provides tax exemption to certain authorities performing functions of public utility or infrastructure development. The exemption is available from Assessment Year 2024-25 onwards, subject to the condition that the authority continues to operate under the Punjab Regional and Town Planning and Development Act, 1995, and fulfils one or more of the specified purposes under Section 10(46A)(a). The retrospective applicability of the notification is supported by an Explanatory Memorandum confirming that no person is adversely affected. This notification formally recognises the Authority’s public purpose role and ensures that its eligible income is exempt, thereby reducing compliance burden and enabling continued focus on regional planning and development activities.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 167/2025-Income Tax | Dated: 4th December, 2025
S.O. 5599(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 “Jalandhar Development Authority” (PAN: AAALC0454G) (hereinafter referred to as “the assessee”), an authority constituted under the Punjab Regional and Town Planning and Development Act, 1995 (Punjab Act No. 11 of 1995), for the purposes of the said clause.
2. This notification shall be effective from the assessment year 2024-25, subject to the condition that the assessee
continues to be an authority constituted under the Punjab Regional and Town Planning and Development Act, 1995 (Punjab Act No. 11 of 1995), 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. 167 /2025/F.No.300195/18/2024-ITA-I]
HARDEV SINGH, Under Secy.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
