CBDT Grants Income Tax Exemption to Moradabad Development Authority under Section 10(46A)

The CBDT (Central Board of Direct Taxes) has granted "income tax exemption to Moradabad Development Authority under Section 10(46A)." This exemption, effective from Assessment Year 2024-25, recognizes the MDA as a statutory body primarily engaged in non-commercial urban planning and developmental functions under the Uttar Pradesh Urban Planning and Development Act, 1973. The exemption applies to eligible receipts, provided the Authority continues to operate strictly within its statutory, non-commercial mandate, serving public interest. This move aims to support public developmental bodies by exempting their statutory income from taxation, thereby facilitating urban infrastructure and civic amenities development.