CBDT Notification Exempting Specified Income of Visakhapatnam Special Economic Zone Authority Under Section 10(46)
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 25th March, 2026
S.O. 1579(E).— 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, ‘Visakhapatnam Special Economic Zone Authority’ (PAN:AAALV1367K) an authority constituted by the Central Government, in respect of the following specified income arising to that council, namely:-
(a) Lease rent (charged as per Government prescribed rate)
(b) Receipts from I-Card and Permit fee
(c) Allotment fee in respect of standard design factories
(d) Auction/Bid amount in case plots/building which fall vacant
(e) Transfer charges in respect of Plot/building
(f) Fees for issue of Form-I for exemption of building plans
(g) Processing fee for approval of building plans, conveying NOC’s etc.
(h) Site usage charges from service providers
(i) License fee for allotment of staff quarters to the staff
(j) Interest on bank deposits
2. This notification shall be effective subject to the conditions that Visakhapatnam Special Economic Zone Authority –
(a) shall not engage in any commercial activity; [भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3
(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and
(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.
3. Failure to comply with these conditions may result in the initiation of penal actions under the provisions of the Income-tax Act, 1961 and withdrawal of the exemption granted u/s 10(46) of the Act.
4. This notification shall be deemed to have been applied for assessment year 2024-25 & 2025-26 relevant for the financial year 2023-24 & 2024-25 and shall be applicable for assessment year 2026-27 to 2028-29 relevant for the financial year 2025-26 to 2027-28.
[Notification No. 32/2026/ F.No. 300196/67/2024-ITA-I]
HARDEV SINGH, U