The CBDT issued Notification No. 16/2025 dated February 12, 2025, granting income tax exemption under section 10(46) of the Income-tax Act, 1961, to the Real Estate Regulatory Authority, Punjab (PAN: AAAJR1281N). This exemption is effective from the assessment year 2024-25, provided the authority continues to operate under The Real Estate (Regulation and Development) Act, 2016, with the specified purposes.
“In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961 (43 of 1961), (hereinafter referred to as “the Income-tax Act”), the Central Government hereby notifies the Real Estate Regulatory Authority, Punjab (PAN: AAAJR1281N) (hereinafter referred to as “the assessee”), an authority constituted under The Real Estate (Regulation and Development) Act, 2016 (No. 16 of 2016), for the purposes of the said clause.
This notification shall be effective from the assessment year 2024-25, subject to the condition that the assessee continues to be an authority constituted under The Real Estate (Regulation and Development) Act, 2016 (No. 16 of 2016) with one or more of the purposes specified in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act.”
The Notifications can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/02/CBDT-NN-_-12.02.2025_260955.pdf
