Big Boost For NOIDA: CBDT Grants Tax Relief On Public Utility Income; Know It Means
Starting from Assessment Year 2024–25, NOIDA is exempt from income tax on non-commercial earnings under Section 10(46A), enabling more investment in public infrastructure.
News18
The New Okhla Industrial Development Authority in short 'NOIDA' won't have to pay income tax on certain earnings, thanks to a new exemption under Section 10(46A) of the Income Tax Act. It is effective from the Assessment Year 2024–25, The Central Board of Direct Taxes (CBDT) made it official with the new notification.
Let's break down what this means and why it's a big deal.
What's Exempt and What's Not?
This tax break applies to NOIDA's non-commercial income—like rent, service fees, and government grants. Since NOIDA was set up under the Uttar Pradesh Industrial Area Development Act of 1976, it qualifies as a public utility body, making it eligible for this relief. But there's a catch: any money NOIDA makes from commercial or profit-driven activities will still be taxed as usual.
Why This Matters
A senior official put it simply as quoted by several media reports: this exemption lets NOIDA keep more of its money to invest in public infrastructure. It can focus on building better roads, improved housing, upgraded drainage systems, and smoother transport—without raising local taxes or fees. For businesses in the area, this could mean faster project approvals, better industrial facilities, and more efficient public services.
How It Benefits Residents and Businesses
For those living in NOIDA, this is a win. The extra funds could lead to noticeable upgrades in their daily life—smoother roads, better public transport, or improved urban planning. Businesses can expect a boost too, with NOIDA likely to streamline services and improve industrial infrastructure, making it easier to get projects off the ground.
This exemption puts NOIDA in the same league as Sovereign Wealth Funds and Pension Funds that support infrastructure in India.
view comments
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
2 hours ago
- News18
MoS Margherita says India, South Africa relations based on mutual trust
Last Updated: Johannesburg, Jul 26 (PTI) 'Relations between India and South Africa are based on shared history, mutual trust and goodwill," said Union Minister of State for External Affairs Pabitra Margherita in South Africa on Saturday. 'India's engagement with Africa, including South Africa, is guided by the principles of Prime Minister Modi. Our engagement with Africa is not transitional; it is transformational," he said while addressing a gathering of Assamese expatriates and Indian-origin South Africans here. Margherita said that India regards its diaspora as one of its greatest assets while seeking their support 'to strengthen the India-South Africa relationships." He urged the diaspora to continue to launch new ventures, initiate joint projects, create more jobs and explore new markets together in India, South Africa and beyond. Margherita wrapped up his 10-day visit to three southern African countries–Eswatini, Lesotho and South Africa–on Saturday and left for Dubai. Earlier this week, Margherita participated in the 4th meeting of the G20 Development Working Group, held in the iconic Kruger National Park, hosted by South Africa, which currently holds the G20 Presidency. PTI FH RD RD RD Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
4 hours ago
- News18
Professional Golf Tour Of India Set To Launch Franchise League
Last Updated: The PGTI league is expected to feature a one-on-one match-play format to increase spectator interest, inspired by successful models in other sports. The Professional Golf Tour of India (PGTI) is on the brink of launching a franchise-based league exclusively for professionals, tour CEO Amandeep Johl disclosed on Saturday. 'Yes, we are definitely going to start a league. We've got some very good offers, and within the next few weeks, we will sign a deal. It will be the PGTI League – strictly for professionals," Johl said. Johl elaborated that a franchise league must be centred around elite competition, explaining why the model excludes amateurs. 'A league can't be for amateurs. IPL is for professional cricketers. Football leagues around the world don't get amateurs to play, they field professionals. People come to watch high-quality sport, and golf is no different," he stated. The proposed format may include up to 10 franchises, each owning a roster of professional golfers in a team setup, with fixtures spread across several weeks. 'People want to come and watch high-class golf. My idea of a league is different from others – while some are doing it for amateurs, I want to do it for hardcore professionals," Johl asserted. 'If I'm a franchisee owner, I've got four, five, or six players on my team, and they go head-to-head with another team – one-on-one match play," Johl explained. 'Imagine Gaganjeet Bhullar playing Jeev Milkha Singh one-on-one, that's golf. People will come and watch that. People will say, 'I'm backing Jeev' or 'I'm backing Gaganjeet'. That's the kind of excitement we want to create," he concluded. With PTI Inputs view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
4 hours ago
- News18
Himachal govt to auction securities worth Rs1,000 crore
Agency: PTI Shimla, Jul 26 (PTI) Reeling under an acute financial crunch, the Himachal Pradesh government has notified Government Stock (securities) of a 22-year tenure to raise Rs 1,000 crore, and the proceeds would be utilised for development programmes, officials said on Saturday. The auction will be conducted by the Reserve Bank of India, at its Mumbai Office, on July 29, 2025. Bids for the auction would be submitted in electronic format, on E-Kuber Core Banking Solution of the RBI, and the consent of the central government has been obtained for floating the loan as required by Article 293(3) of the Constitution. As per the notification, the securities will be of 22-year tenure commencing on July 30, 2025, and the loan will be repaid at par on July 30, 2047, and the interest will be paid on a half-yearly basis on January 30 and July 30 every year. The competitive bids will be submitted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) system, while the non-competitive bids will also be submitted electronically on the E-Kuber system. The result of the auction will be displayed by the RBI on its website on the same day, and the payment by successful bidders will be made on July 30, 2025, before the close of banking hours. The state government had been procuring loans through the sale of government securities in the past, and such loans were procured in 2020, 2023, 2024 and now in 2025 also. PTI BPL BAL BAL (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 26, 2025, 21:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
