The Ministry of Finance (Department of Revenue), through the Central Board of Direct Taxes (CBDT), issued Notification No. 150/2025 on October 8, 2025, to formally recognize the Jhansi Development Authority (JDA) for the purpose of a specific income tax exemption. Exercising powers granted under sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961, the Central Government notified the JDA (PAN: AAALJ0068K), which is an authority established under the Uttar Pradesh Urban Planning and Development Act, 1973. This notification grants the JDA an exemption from income tax on specific types of income, provided the JDA continues to meet two key requirements. First, it must remain an authority constituted under the Uttar Pradesh Urban Planning and Development Act, 1973. Second, it must continue to operate with one or more of the purposes defined in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act. This exemption is effective from the assessment year 2025-2026.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 150/2025 – Income Tax | Dated: 8th October, 2025
S.O. 4584(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 “Jhansi Development Authority (PAN:AAALJ0068K) (hereinafter referred to as “the assessee ”), an authority constituted under the Uttar Pradesh Urban Planning and 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 2025-2026, subject to the condition that the assessee continues to be an authority constituted under the Uttar Pradesh Urban Planning and 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.
MEENAKSHI SINGH, Dy. Secy.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
