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Charitable and Religious Trusts Can Now Register with IT Department Until September 30, 2023 New Tax Exemption Limit for Leave Encashment on Retirement


(Department of Revenue)



New Delhi, the 27th May, 2020

S.O. 1659(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961(43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Cochin Special Economic Zone Authority’, Kochi (PAN AAAGC0659L), a authority constituted by the Government of India, in respect of the following specified income arising to that Authority, namely:-

  • Lease rent (charged as per Government prescribed rate);
  • Interest from banks on RDRs;
  • Receipts from I-Card and permit fee;
  • Allotment Fee in respect of Standard Design Factories (SDF);
  • Auction/Bid amount in respect of Plots/Buildings which fall vacant;
  • Transfer charges in respect of Plot/Building;
  • Fee for issue of Form-I for exemption of Building Plans;

[भाग II—खण्ड 3(ii)] भारत का राजपत्र :  साधारण                                                           3

  • Processing fee for approval of Building Plans;
  • Usage charges from Service provided;
  • License fee for allotment of Staff Quarters to the Staff;
  • Integrated Water Management Systems (IWMS) (Water Treatment Plant (WTP), Common Effluent Treatment Plant (CETP), Incinerator, Biogas Plant) charges/fees/fine etc.;
  • Power Distribution Business; and
  • From the sale of miscellaneous scrap/waste.
  • This notification shall be effective subject to the conditions that Cochin Special Economic Zone Authority,


  • shall not engage in any commercial activity;
  • activities and the nature of the specified income shall remain unchanged throughout the financial years; and
  • shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.
  • Shall file the audit report along with the return, duly verified by the accountant as provided in explanation to section 288 (2) of the Income-tax Act, 1961 along with a certificate from the chartered accountant that the above conditions are satisfied.
  • This notification shall be deemed to have been applied for the assessment years 2018-2019 and 2019-2020 and shall apply with respect to the assessment years 2020-2021, 2021-2022 and 2022-2023.

[Notification No.  27 /2020/F.No.300196/26/2018-ITA-I]


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