The Ministry of Finance, Department of Revenue, through Notification No. 146/2025 dated 15th September 2025, has notified the Ghaziabad Development Authority (PAN: AAALG0072C) under clause (46A) of section 10 of the Income-tax Act, 1961. The Authority, constituted under the Uttar Pradesh Urban Planning and Development Act, 1973, will be eligible for income-tax exemption for the assessment year 2024-25 onwards, provided it continues to function as an authority under the said Act and carries out one or more purposes specified in section 10(46A)(a). The notification includes a retrospective effect from AY 2024-25 and clarifies that no person is adversely impacted by this retrospective application.
MINISTRY OF FINANCE
(Department of Revenue)
(Central Board Of Direct Taxes)
Notification No. 146/2025-Income Tax | Dated: 15th September, 2025
S.O. 4166(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 “Ghaziabad Development Authority (PAN: AAALG0072C)” (hereinafter referred to as “the assessee”), an authority constituted under the Uttar Pradesh Urban Planning and Development Act, 1973 (President 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 and Development Act, 1973 (President 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. 146/2025/ F. No. 300195/40/2024-ITA-I]
MEENAKSHI SINGH, Dy. Secy.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
