The Ministry of Finance, through a notification from the Central Board of Direct Taxes (CBDT), has officially recognized the Lucknow Development Authority for the purposes of sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961. This status is effective from the assessment year 2024-25. The notification specifies that this designation is subject to the authority’s continued operation under the Uttar Pradesh Urban Planning and Development Act, 1973. An accompanying memorandum certifies that the retrospective effect of this notification will not adversely affect any person.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 142/2025-Income Tax | Dated: 2nd September, 2025
S.O. 4008(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 “Lucknow Development Authority” (PAN AAALL0016F) (hereinafter referred to as “the assessee”), an authority constituted under the Uttar Pradesh Urban Planning and Development Act, 1973 (President Act 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 the Uttar Pradesh Urban Planning and Development Act, 1973 (President’s Act 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. 142 /2025/F. No. 300195/16/2024-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.
