Income Tax Exemption for Varanasi Development Authority
- Document
- Notification Notification No. 31/2026
- Effective
- Assessment year 2025-26
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. 31/2026 confirms that the Varanasi Development Authority is now exempt from paying income tax on specific types of earnings. This document exists to officially recognize the authority as a government-backed body that does not need to pay tax on its core development income.
What has changed
How it worked before
Previously, there was no specific notification under section 10(46A) of the Income-tax Act, which is the law governing tax exemptions for government bodies, that covered this specific authority. This meant the authority did not have a clear legal path to claim this particular tax break.
What has changed
The government has now officially added the Varanasi Development Authority to the list of bodies that qualify for tax exemptions under section 10(46A) of the Income-tax Act. This means the money the authority earns from its development activities is no longer subject to income tax starting from the assessment year 2025-26, which is the twelve-month period used to calculate tax.
Who this affects
This change applies exclusively to the Varanasi Development Authority. It does not affect private businesses, individual taxpayers, or other government departments.
What you should do
No action is required from you. This notification is a regulatory update for the authority itself and does not change any tax filing requirements for the general public or local businesses.
The original document
| Issued by | IT |
|---|---|
| Document | Notification Notification No. 31/2026 |
| Full title | Notification No. 31/2026 |
| Effective | Assessment year 2025-26 |
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