Income Tax Exemption granted to RERA Punjab u/s 10(46A) [Read Notification]:

Income Tax Exemption granted to RERA Punjab u/s 10(46A) [Read Notification] The Central Board of Direct Taxes (CBDT) has granted income tax exemption to RERA Punjab under Section 10(46A) of Income Tax Act 1961 via issuing a Notification. The Real Estate Regulatory Authority Punjab was established on 10.08.2017. RERA Punjab aims to regulate and promote the sector of real estate while providing transparency, efficiency, and consumer protection. The Notification Read as Follows: In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the Income Tax Act, 1961 (43 of 1961), (hereinafter referred to as “the Income-tax Act”), the Central Government hereby notifies the Real Estate Regulatory Authority, Punjab (PAN: AAAJR1281N) (hereinafter referred to as “the assessee”), an authority constituted under The Real Estate (Regulation and Development) Act, 2016 (No. 16 of 2016), for the purposes of the said clause. This notification shall be effective from the assessment year 2024-25, subject to the condition that the assessee continues to be an authority constituted under The Real Estate (Regulation and Development) Act, 2016 (No. 16 of 2016) with one or more of the purposes specified in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act. For Official Notification Download PDF Given Below: