Notification no. 16/2025 dated 12.02.2025- Income tax

Central Board of Direct Taxes (CBDT) issued notification no. 16/2025 dated 12.02.2025 whereby the Central Government 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.