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The Central Government notifies the Uttar Pradesh Real Estate Regulatory Authority under clause (46) of section 10 of the Income-tax Act, 1961, for specified income. The specified income includes grants or loans from the government, fees or penalties from builders and stakeholders, Right to Information fees, and bank deposit interest. The Authority must not engage in any commercial activity, must keep activities and income unchanged, and must file a return of income under section 139. This notification applies to the assessment years 2021-2022, 2022-2023, and 2023-2024.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 1st March, 2024
S.O. 999(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Uttar Pradesh Real Estate Regulatory Authority’ (PAN AAAGU0671E), an Authority constituted by the State Government of Uttar Pradesh, in respect of the following specified income arising to that Authority, namely:-
[Notification No. 25/2024/F. No. 300196/17/2021-ITA-I] CASTRO JAYAPRAKASH T., Under Secy.
Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification.
