For a period of five years, till the fiscal year 2027–2028, the income of the Unique Identification Authority of India (UIDAI) is exempt from income tax payment, according to the finance minister.
Thus, income tax would not apply to grants or subsidies from the central government, fees or subscriptions (such as RTI, tender, scrap, and PVC card fees), term or fixed deposits, interest earned by UIDAI on bank deposits, and charges for authentication, enrolment, and updating services.
The Ministry of Finance’s Central Board of Direct Taxes (CBDT) released a notification to this effect.
“This notification shall be applicable for assessment year 2024-2025, 2025-2026, 2026-2027, 2027-2028 and 2028-2029,” it added.
UIDAI is a statutory authority established under the provisions of the Aadhaar Act, 2016, to ensure compliance with Aadhaar Act, and make regulations & rules consistent with the Act.
This notification would be effective subject to the conditions that UIDAI would not engage in any commercial activity; activities and the nature of the specified income shall remain unchanged throughout financial years.
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