CBDT Notifies Income Tax Exemption To Bhadohi Industrial Development Authority

The Central Board of Direct Taxes (CBDT) has notified income tax exemption to Bhadohi Industrial Development Authority.

The Bhadohi Industrial Development Authority is an authority constituted by the state government of Uttar Pradesh.

The exemption is granted in respect of money received from the disposal of land or 90-year lease of immovable properties; money received by the way of lease rent and fees or any other charges from the disposal or 90-year lease of immovable properties; the amount of interest or penalties received on the deferred payment received from the allottees of various immovable properties; water, sewerage, and other municipal charges from the allottees of various immovable properties; and interest earned from it.

The notification shall be effective if the Bhadohi Industrial Development Authority does not engage in any commercial activity.

The notification shall be deemed to have been applied for the financial year 2020-2021 (for the period from 01-06-2020 to 31-03-2021) and for the financial years 2021-2022 to 2022-2023.

Notification No. 16

Date: 01.04.2023

Click Here To Read The Notification