Notification no. 116/2025 dated 17.07.2025- Income tax

Central Board of Direct Taxes (CBDT) issued notification no. 116/2025 dated 17.07.2025 to grant exemption u/s 10(46A)(b) of the Income-tax Act, 1961 (43 of 1961), to “New Okhla Industrial Development Authority” having PAN: AAALN0120A, an authority constituted under the Uttar Pradesh Industrial Area Development Act, 1976 (U.P. Act No. 6 of 1976).

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 Industrial Area Development Act, 1976 (U.P. Act No.6 of 1976) with one or more of the purposes specified in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act.