The Central Board of Direct Taxes (CBDT) on May 10, 2023, notified for the purposes of the Pune Metropolitan Region Development Authority established in respect of the specified income arising by MoHFW.
The following specified income arising from the said Authority has been stated:
• grants received from the State Government, the Union Government, or any other authority or agency.
• income such as fees, user charges, or fines received in the capacity of the Local Town Planning Authority.
• income such as land lease – rental received from monetization of Government Lands;
• stamp duty grant;
• other miscellaneous income such as penalty charges, sale of tender forms, RTI fees, registration charges from contractors, the penalty levied on contractors for defective work; and
• interest earned on the above-mentioned.
It is stated that this notification will be effective subject to Pune Metropolitan Region Development Authority: - (a) shall not engage in any commercial activity; (b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and (c) shall file a return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.
This notification shall be deemed to have been applied for the financial years 2017-2018, 2018-2019, 2019- 2020, 2020-2021, and 2021-2022.
[Notification No. S.O. 2154(E)]
