Notification no. 34/2026 dated 27.03.2026- Income tax

Central Board of Direct Taxes (CBDT) issued notification no. 34/2026 dated 27.03.2026 to provide exemption u/s 10(46A)(b) of the Income tax Act, 1961 (43 of 1961), to ‘Improvement Trust, Sangrur’ (PAN: AAATI6009F) (hereinafter referred to as “the assessee”), a trust constituted under ‘The Punjab Town Improvement Act, 1922’(Punjab Act 4 of 1922).

This notification shall be effective from the assessment year 2025-26, subject to the condition that the assessee continues to be a trust constituted under ‘The Punjab Town Improvement Act, 1922 (Punjab Act 4 of 1922)’ with one or more of the purposes specified in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act.