CBDT Notifies Moradabad Development Authority for Exemption u/s 10(46A) w.e.f. AY 24‑25

CBDT Notifies Moradabad Development Authority for Exemption u/s 10(46A) w.e.f. AY 24‑25

The Central Board of Direct Taxes (CBDT) has recently issued a notice authorised by clause (46A) (b) of the Income Tax Act, 1961.

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The Central Government on July 22, 2025, notified the “Moradabad Development Authority” of income tax exemption. Moradabad Development Authority is an organisation which was incorporated under the Uttar Pradesh Urban Planning and Development Act, 1973.

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The notification specifies that the exemption will remain valid if the authority continues to be established under the Uttar Pradesh Urban Planning and Development Act 1973 with one or more of the objectives mentioned in clause (46A) (a) of section 10 of the Income Tax Act.

Note: The notification shall be effective from the assessment year 2024-2025.