Income Tax Exemption for Haryana Shehri Vikas Pradhikaran
- Document
- Notification Notification No. 29/2026
- Effective
- Assessment year 2024-25
This page was written by Patron Accounting’s AI from the official release and reviewed before publishing. It explains the document in plain language. It is not the document itself. Where this page and the original differ, the original governs.
In short
Notification No. 29/2026 confirms that the Haryana Shehri Vikas Pradhikaran (HSVP) is exempt from paying income tax. This document officially recognizes the body as a government-authorized entity that does not need to pay tax on its earnings.
What has changed
How it worked before
Previously, there was no specific notification under section 10(46A)(b) of the Income-tax Act, 1961, which covers tax-free income for government bodies. Without this formal recognition, the organization's tax status remained unclear under these specific rules.
What has changed
The government has now officially notified the Haryana Shehri Vikas Pradhikaran under section 10(46A)(b) of the Income-tax Act, 1961, which defines tax-exempt income sources. This change ensures that the income generated by this specific authority is legally protected from income tax starting from the assessment year 2024-25, which is the period used to calculate tax for the previous financial year.
Who this affects
This notification applies exclusively to the Haryana Shehri Vikas Pradhikaran, formerly known as the Haryana Urban Development Authority. It does not affect individual taxpayers, private businesses, or other government departments.
What you should do
No action is required by the public or other business owners. This is an administrative update regarding the tax status of a specific government authority.
The original document
| Issued by | IT |
|---|---|
| Document | Notification Notification No. 29/2026 |
| Full title | Notification No. 29/2026 |
| Effective | Assessment year 2024-25 |
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