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The Central Government notifies specified income of the Madhya Pradesh Real Estate Regulatory Authority for income tax exemption under section 10 of the Income-tax Act, 1961. The authority receives this exemption for registration fees, application fees, penalties, late fees, compounding charges, grants-in-aid, and interest. The authority must not engage in any commercial activity. The activities and the nature of the specified income must remain unchanged throughout the financial years. The authority must file a return of income under section 139 of the Income-tax Act, 1961. This notification applies to the financial years 2017-2018 through 2021-2022.
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MINISTRY OF FINANCE (Department of Revenue) (Cental Board of Direct Taxes) NOTIFICATION New Delhi, the 10th August, 2018 S.O. 3960(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, Madhya Pradesh Real Estate Regulatory Authority, a body constituted by Government of Madhya Pradesh, in respect of the following specified income arising to that body, namely:-
[Notification No. 39/2018 /F. No. 300196/31/2017-ITA-I] VINAY SHEEL GAUTAM, Under Secy.
Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective effect to this notification.
