**Executive Summary**
This notification, issued by the Central Board of Direct Taxes (CBDT) on March 25, 2026, officially designates the "Varanasi Development Authority" as an authority under the Income-tax Act, 1961. The notification is effective from the assessment year 2025-26, provided the entity maintains its status under the Uttar Pradesh Urban Planning and Development Act, 1973. It includes an explanatory memorandum confirming that its retrospective application from the year of the initial application does not adversely affect any person.
**Key Points / Main Content**
**Official Notification and Authority**
* **Assessee Identified:** The Central Government notifies the "Varanasi Development Authority" (PAN: AAATV6811A) under Section 10(46A)(b) of the Income-tax Act, 1961.
* **Legal Basis:** The authority was established under the Uttar Pradesh Urban Planning and Development Act, 1973 (President’s Act No. 11 of 1973).
**Effective Dates and Conditions**
* **Effective Timeline:** The notification applies starting from the assessment year 2025-26.
* **Operational Condition:** Validity is contingent upon the assessee continuing to function as an authority constituted for the purposes specified in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act.
**Retrospective Application**
* **Explanatory Memorandum:** The notification is applied retrospectively from the year the application was made to the Board/Department.
* **No Adverse Impact:** It is certified that this retrospective effect does not negatively impact any individual or entity.
**Impact Analysis**
**Varanasi Development Authority**
**Impact**
The authority is now officially recognized under the specific provisions of the Income-tax Act, 1961, for the purposes of Section 10(46A), effective from the 2025-26 assessment year.
**Action Required**
The authority must ensure it continues to operate under the mandates of the Uttar Pradesh Urban Planning and Development Act, 1973, to maintain the validity of this notification.
**Income Tax Department / Central Board of Direct Taxes (CBDT)**
**Impact**
The department is now authorized to treat the Varanasi Development Authority as a notified entity for tax purposes under the specified section.
**Action Required**
The department must apply these provisions for the assessee (PAN: AAATV6811A) starting from the assessment year 2025-26 and manage any retrospective claims from the date of the original application.
Key Entities Referenced
Varanasi Development Authority: The specific entity notified as the 'assessee' for tax-related purposes under the Income-tax Act.
Income-tax Act, 1961: The primary federal legislation under which the central government exercises power to notify specific authorities for tax exemptions or status.
Uttar Pradesh Urban Planning and Development Act, 1973: The state law under which the Varanasi Development Authority was originally constituted and maintained.
Central Board of Direct Taxes: The primary regulatory body under the Ministry of Finance responsible for issuing this notification and managing direct tax administration.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-25032026-271294
CG-DxLx-xEG-I2D5H0x3x2x0 26-271294
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असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 1513] नई दिल्ली, बधु िार , माच ड25, 2026/चत्रै 4, 1948 13, 1947 26/पौर् 17, 1947
No. 1513] NEW DELHI, WEDNESDAY, MARCH 25, 2026/CHAITRA 4, 1948 ss, 1947 /PAUSHA 17, 1947
जित्त मत्रं ालय
(रािस्ट्ि जिभाग)
(केन्द्रीय प्रत्यक्ष कर बोडड)
अजधसचू ना
नई दिल्ली, 25 माचड, 2026
का.आ. 1578(अ).— केंर सरकार, आयकर अजधजनयम, 1961 (1961 का 43) (एतजममन् पश्चात जिसे “आयकर
अजधजनयम” स े संिर्भडत दकया गया ह)ै की धारा 10 के खडं (46क) के उपखडं (ख) द्वारा प्रित्त िजियों का प्रयोग करते हुए,
एतद्द्वारा, उि खडं के प्रयोिनों के जलए उत्तर प्रिेि िहरी जनयोिन एिं जिकास अजधजनयम, 1973 (राष्ट्रपजत अजधजनयम
संख्या 1973 का 11) के अंतगडत गठित प्राजधकरण “िाराणसी जिकास प्राजधकरण” (पैन: AAATV6811A) (एतजममन् पश्चात
जिसे “जनधाडठरती” से संिर्भडत दकया गया ह)ै को अजधसूजचत करती ह।ै
2. यह अजधसूचना जनधाडरण िर्ड 2025-26 से प्रभािी होगी बिते दक जनधाडठरती आयकर अजधजनयम की धारा
10 के खंड (46क) के उपखंड (क) म ें जिजनर्िडष्ट एक या एक से अजधक उद्दमे य स े उत्तर प्रििे िहरी योिना एिं जिकास
अजधजनयम, 1973 (राष्ट्रपजत अजधजनयम संख्या 1973 का 11) के तहत स्ट्थाजपत प्राजधकरण बना रहता ह।ै
[अजधसूचना स.ं 31 /2026/फा.सं. 300195/45/2024-ITA-I]
हरिेि ससंह, अिर सजचि
2191 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
स्ट्पष्टीकरण ज्ञापन
प्रमाजणत दकया िाता ह ैदक इस अजधसूचना को पूिडव्यापी प्रभाि से (बोड/ड आयकर जिभाग के समक्ष आिेिन दकए िान े के
िर्ड से) लाग ूकरन े से दकसी भी व्यजि पर प्रजतकूल प्रभाि नहीं पड़ रहा ह।ै
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 25th March, 2026
S.O. 1578(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 “Varanasi Development Authority” (PAN:AAATV6811A), (hereinafter referred to as “the assessee”), an
authority constituted under the Uttar Pradesh Urban Planning and Development Act, 1973 (President’s Act No.11 of
1973) for the purposes of the said clause.
2. This notification shall be effective from the assessment year 2025-26, subject to the condition that the
assessee continues to be an authority constituted under the Uttar Pradesh Urban Planning and Development Act, 1973
(President’s Act No.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. 31 /2026/ F.No. 300195/45/2024-ITA-I]
HARDEV SINGH, Under Secy.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect (with effect from the year of
application made before the Board/Department) to this notification.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.