The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), issued Notification No. 33/2026 dated March 27, 2026, notifying the “Uttarakhand Avas and Nagar Vikas Pradhikaran” under Section 10(46A) of the Income-tax Act, 1961. This notification grants the authority tax exemption benefits, recognizing it as an eligible statutory body constituted under the Uttarakhand Urban and Country Planning and Development (Amendment) Act, 2013. The exemption is applicable from Assessment Year 2025–26, provided the entity continues to operate for specified public purposes as defined under the Act. The notification ensures that income arising to such authority qualifies for exemption, subject to compliance with statutory conditions. Additionally, the explanatory memorandum clarifies that the retrospective effect granted aligns with the date of application and does not adversely impact any person. This move provides clarity and reinforces the tax-exempt status of qualifying development authorities engaged in public welfare functions.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 33/2026 – Income Tax | Dated: 27th March, 2026
S.O. 1622(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 “Uttarakhand Avas and Nagar Vikas Pradhikaran” (PAN: AAAGU0071N) (hereinafter referred to as “the assessee”), an authority constituted under the Uttarakhand Urban and Country Planning and Development (Amendment) Act, 2013, for the purposes of the said clause.
2. This notification shall be effective from the assessment year 2025-26, subject to the condition that the assessee continues to be an authority constituted under the Uttarakhand Urban and Country Planning and Development (Amendment) Act, 2013 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. 33 /2026/F.No. 300195/48/2024-ITA-I]
HARDEV SINGH, Under Secy.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect (with effect from the year of application made before the Board/Department) to this notification.
