Central Board of Direct Taxes (CBDT) issued notification no. 148/2025 dated 22.09.2025 to Exempt u/s 10(46) of the Income-tax Act, 1961 (43 of 1961), to ‘Real Estate Regulatory Authority’ Rajasthan, Jaipur (PAN: AAAGR0430E) an Authority constituted by the Rajasthan State Government, in respect of the following specified income arising to that Authority, namely: –
(a) Amount received as Grant-in-aid or loan/advance from Government;
(b) Fee/penalty received as per the provisions of ‘The Real Estate (Regulation and Development) Act, 2016’ (No. 16 of 2016);
(c) Interest earned on (a) & (b) above
2. This notification shall be effective subject to the conditions that ‘Real Estate Regulatory Authority’ Jaipur, Rajasthan –
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and
(c) 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.
3. This notification shall be deemed to have been applied for assessment years 2023-2024 to 2025-2026 relevant for the financial years 2022-2023 to 2024-2025 and shall be applicable for assessment year 2026 -2027 to 2027-2028 relevant for the financial year 2025-2026 to 2026-2027.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification
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