This notification, S.O. 5368(E), issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes on October 22, 2018, grants an exemption under clause (46) of Section 10 of the Income-tax Act, 1961 to the Gujarat Real Estate Regulatory Authority (RERA), Gandhinagar. The exemption applies to the following specified income: (a) Grants and loans received from the State Government; (b) All fees received under the Real Estate (Regulation and Development) Act, 2016 and the Gujarat Real Estate (Regulation and Development) General Rules, 2017; (c) Sums realized by way of penalties under subsection (2) of Section 76 of the Real Estate (Regulation and Development) Act, 2016; and (d) Interest accrued on (a) to (c) above. The notification is subject to the conditions that Gujarat RERA: (a) shall not engage in any commercial activity; (b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and (c) shall file a return of income in accordance with clause (g) of subsection (4C) of Section 139 of the Income-tax Act, 1961. This notification applies to the assessment years 2019-20, 2020-21, 2021-22, 2022-23 and 2023-24. The notification number is 71/2018, and the F.No. is 300196/44/2018-ITA-I. The Under Secretary, Vinay Sheel Gautam, is the contact person.
Key Entities Referenced
Income-tax Act, 1961: A law cited as the basis for the notification, specifically clause 46 of section 10 and clause g of subsection 4C of section 139.
Central Board of Direct Taxes: The issuing authority for the notification, under the Department of Revenue, Ministry of Finance.
Gujarat Real Estate Regulatory Authority, Gandhinagar: A body constituted by the Government of Gujarat, which is the subject of the notification regarding income tax exemptions.
Government of Gujarat: The state government that constituted the Gujarat Real Estate Regulatory Authority.
Real Estate Regulation and Development Act, 2016: A law under which fees are received by the Gujarat Real Estate Regulatory Authority.
Gujarat Real Estate Regulation and Development General Rules, 2017: Rules under which fees are received by the Gujarat Real Estate Regulatory Authority.
Ministry of Finance: The ministry under which the Central Board of Direct Taxes operates.
New Delhi: The location where the notification was issued.
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PART II—Section 3—Sub-section (ii)
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No. 4163] NEW DELHI, MONDAY, OCTOBER 22, 2018/ASVINA 30, 1940
ििििवववव(cid:3)(cid:3)(cid:3)(cid:3) मममम(cid:7)(cid:7)ंं(cid:7)(cid:7)ंं ााााललललयययय
(ररररााााजजजज(cid:4)(cid:4)(cid:4)(cid:4)वववव ििििववववभभभभाााागगगग)
(क(cid:2)(cid:3)ीय (cid:7)(cid:8)य(cid:9) कर बोड(cid:14))
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:1)द(cid:3)ली, 22 अ(cid:7) तूबर, 2018
ककककाााा....आआआआ.... 5555333366668888((((अअअअ))))....————आयकर अिधिनयम, 1961 (1961 का 43) क(cid:12) धारा 10 के खंड (46) (cid:16)ारा (cid:17)द(cid:18) शि(cid:21)य(cid:23) का
(cid:17)योग करत े (cid:27)ए, क(cid:29)(cid:30) सरकार एतद(cid:16)ारा उ(cid:21) खंड के उ$े%य क(cid:12) पू’त हते ु ‘गुजरात सरकार (cid:16)ारा ग+ठत (cid:17)ािधकरण, गुजरात
भ-ू स.पदा िविनयामक (cid:17)ािधकरण, गांधीनगर, को होन े वाली िन2िलिखत िविन3द4 आय के संबधं म (cid:29) एतद(cid:16)ारा अिधसूिचत
करती ह ैिजस का 9यौरा िन2िलिखत ह:ै—
(क) रा;य सरकार स े(cid:17)ा< सभी अनदु ान और ऋण;
(ख) भ-ू स.पदा(िविनयामक और िवकास) अिधिनयम, 2016 और गुजरात भ-ू स.पदा (िविनयामक और िवकास)
(सामा@य) िनयामवली, 2017 के तहत (cid:17)ा< सभी फ(cid:12)स;
(ग) भ-ू स.पदा (िविनयामक और िवकास) अिधिनयम, 2016 क(cid:12) धारा 76 क(cid:12) उपधारा (2) के तहत जमु ाBना (cid:16)ारा
(cid:17)ा< सभी रािश;
(घ) उपयुB(cid:21) (क) स े(ग) पर अ’जत 9याज
2. यह अिधसूचना इन शतD के अEयधीन (cid:17)भावी होगी (cid:1)क ‘गुजरात भ-ू स.पदा िविनयामक (cid:17)िधकरण, गांधीनगर—
(क) (cid:1)कसी भी Fावसाियक गितिविध म(cid:29) शािमल नहG होगा;
6175 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(ख) िविन3द4 आय के संबंध म (cid:29) (cid:1)Hयाकलाप और िवशेष आय क(cid:12) (cid:17)कृित, िव(cid:18)ीय वषD के दौरान अप+रव’तत रहगे ी;
और
(ग) आयकर अिधिनयम, 1961 क(cid:12) धारा 139 क(cid:12) उपधारा – 4(ग) के खंड (छ) के (cid:17)ावधान के अनसु ार आय क(cid:12)
िववरणी दायर करेगा।
3. यह अिधसूचना िनधाBरण वषD 2019-20, 2020-21 2021-22, 2022-23 और 2023-24 के संबंध म (cid:29)लागू होगी।
[अिधसूचना स.ं 71 /2018/ फा. सं. 300196/44/2018-आईटीए-I]
िवनय शील गौतम, अवर सिचव
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 22nd October, 2018
S.O. 5368(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, ‘Gujarat Real Estate Regulatory
Authority’, Gandhinagar, a body constituted by the Government of Gujarat, in respect of the following specified income
arising to that body, namely:—
(a) Grants and loans received from the State Government;
(b) All fees received under the Real Estate (Regulation and Development) Act, 2016 and the Gujarat Real Estate
(Regulation and Development) (General) Rules, 2017;
(c) Sums realized by way of penalties under sub-section (2) of the section 76 of the Real Estate (Regulation and
Development) Act, 2016; and
(d) Interest accrued on (a) to (c) above.
2. This notification shall be effective subject to the conditions that Gujarat Real Estate Regulatory Authority,
Gandhinagar,—
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and
(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of
the Income-tax Act, 1961.
3. This notification shall apply with respect to the assessment years 2019-2020, 2020-2021, 2021-2022, 2022-2023 and
2023-2024.
[Notification No. 71 /2018/ F.No. 300196/44/2018-ITA-I]
VINAY SHEEL GAUTAM, Under Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.