U/s 10(46) of the Income-tax Act, 1961 Central Government notifies ‘Visakhapatnam Special Economic Zone Authority’, an authority constituted by the Central Government, in respect of the specified income arising to that authority - 25/2019 - Income Tax Act, 1961
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Tax notification under section 10(46): Visakhapatnam SEZ Authority's specified non-commercial receipts notified as exempt subject to conditions. Notification designates Visakhapatnam Special Economic Zone Authority for the purpose of tax treatment of specified receipts comprising lease rent, permit and I-Card fees, allotment and auction/bid receipts for plots/buildings, transfer charges, fees relating to building-plan exemptions and approvals, site usage and license fees, and interest on these receipts. The designation is subject to conditions that the Authority shall not engage in commercial activity, the activities and nature of specified income remain unchanged across financial years, and the Authority shall file returns as prescribed; the notification applies from assessment year 2018-2019 through 2022-2023.
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Tax notification under section 10(46): Visakhapatnam SEZ Authority's specified non-commercial receipts notified as exempt subject to conditions.
Notification designates Visakhapatnam Special Economic Zone Authority for the purpose of tax treatment of specified receipts comprising lease rent, permit and I-Card fees, allotment and auction/bid receipts for plots/buildings, transfer charges, fees relating to building-plan exemptions and approvals, site usage and license fees, and interest on these receipts. The designation is subject to conditions that the Authority shall not engage in commercial activity, the activities and nature of specified income remain unchanged across financial years, and the Authority shall file returns as prescribed; the notification applies from assessment year 2018-2019 through 2022-2023.
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