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The Central Government notifies the Real Estate Appellate Tribunal, Punjab under section 10 clause 46 of the Income-tax Act, 1961 for specified income. The specified income includes fees, charges, fines, government grants, and interest on bank deposits. The notification applies for Assessment Years 2023-2024 to 2027-2028. The body must not engage in any commercial activity. The activities and nature of the specified income must remain unchanged throughout the financial years. The body must file a return of income under section 139 sub-section 4C clause g.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 6th June, 2024
S.O. 2208(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, ‘Real Estate Appellate Tribunal, Punjab’ (PAN AAALR2230D), a body constituted by the Government of Punjab, in respect of the following specified income arising to that body, namely:
[Notification No. 49/2024 F. No. 300196/16/2022-ITA-I] VIKAS SINGH, Director (ITA-I)
Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification.
