SECTION 10(46) OF THE INCOME-TAX ACT, 1961 – EXEMPTIONS – STATUTORY BODY/AUTHORITY/BOARD/COMMISSION – NOTIFIED BODY OR AUTHORITY

NOTIFICATION NO. SO 2281(E) [NO.70/2017 (F.NO.300196/30/2013-ITA-I)], DATED 20-7-2017

In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Noida Special Economic Zone Authority, Noida’, an authority constituted under the Special Economic Zone Act, 2005 of the Government of India, in respect of the following specified income arising to that authority, namely:—

(a)		lease rent (charged as per Government prescribed rate);
(b)		interest from banks on FDRs;
(c)		receipts from I-Card and Permit fees;
(d)		allotment Fee in respect of Standard Design Factories(SDF);
(e)		auction/Bid amount in respect of Plots/Buildings which fall vacant;
(f)		transfer charges in respect of Plot/Building;
(g)		fee for issue of Form-I for exemption of Building Plans;
(h)		processing fee for approval of Building Plans;
(i)		site usage charges from Service providers; and
(j)		license fee for allotment of Staff Quarters to the staff.

2. This notification shall be effective subject to the conditions that Noida Special Economic Zone Authority, Noida

(a)		shall not engage in any commercial activity;
(b)		its activities and the nature of the specified income shall remain unchanged throughout the financial years; and
(c)		it files return of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the Income-tax Act, 1961.

3. This notification shall be deemed to have been applied for the Financial Year 2013-2014, 2014-2015, 2015-2016, 2016-2017^* and shall apply with respect to the Financial Year 2017-2018.