Notification under section 10(46A) of Income Tax Act, 1961 in the case of Agra Development Authority
By Notification No. 10/2026 dated 19 January 2026, the Central Government, acting through the Central Board of Direct Taxes, notified the Agra Development Authority under Section 10(46A) of the Income-tax Act, 1961. As a result, the Authority qualifies for income-tax exemption in respect of specified income, subject to statutory conditions. The notification applies with effect from Assessment Year 2024–25 and is conditional upon the Authority continuing to be constituted under the Uttar Pradesh Urban Planning & Development Act, 1973, and pursuing one or more objects specified in Section 10(46A)(a). The accompanying Explanatory Memorandum clarifies that the retrospective application causes no adverse impact, as it operates from the year in which the application was made. The notification provides certainty on tax treatment for statutory urban development authorities and reinforces the legislative intent to exempt income of notified bodies engaged in public infrastructure and planned development functions.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 10/2026- Income Tax | Dated: 19th January, 2026
S.O. 262(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 “Agra Development Authority” (PAN: AAALA0081F) (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 2024-25, 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. 10 /2026/F. No. 300195/67/2024-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.
