Executive Summary:
This notification, issued by the Central Board of Direct Taxes, grants an exemption under Section 10(46) of the Income-tax Act, 1961, to the Uttarakhand Real Estate Regulatory Authority, Dehradun, for specified income. The exemption applies retrospectively from the assessment year 2018-2019 and extends to subsequent assessment years up to 2022-2023. The notification outlines conditions for maintaining the exemption, including restrictions on commercial activities and requirements for filing income tax returns.
Key Points / Main Content:
* **Exemption Granted:**
* The Central Government notifies the Uttarakhand Real Estate Regulatory Authority, Dehradun, for exemption under Section 10(46) of the Income-tax Act, 1961.
* **Specified Income:**
* Grants-in-aid received from the Government.
* Registration fees received under the Real Estate Regulation and Development Act, 2016.
* Application fees received under the Real Estate Regulation and Development Act, 2016.
* Penalties for violation of provisions in the Real Estate Regulation and Development Act, 2016.
* Late fees received under the Real Estate Regulation and Development Act, 2016.
* Fees received under the Right to Information Act, 2005.
* Interest accrued on the above amounts as per clause 751c of the Real Estate Regulation and Development Act, 2016.
* **Conditions for Exemption:**
* The Authority shall not engage in any commercial activity.
* The activities and the nature of the specified income shall remain unchanged throughout the financial years.
* The Authority shall file a return of income as per section 139(4C)(g) of the Income-tax Act, 1961.
* **Applicability:**
* The notification applies retrospectively for the assessment year 2018-2019.
* It is also applicable for the assessment years 2019-2020, 2020-2021, 2021-2022 and 2022-2023.
Impact Analysis:
* **Uttarakhand Real Estate Regulatory Authority, Dehradun:**
* *Impact:* Exempts specified income from income tax, potentially reducing the authority's tax burden.
* *Action Required:* Ensure compliance with the conditions stipulated in the notification, including refraining from commercial activities, maintaining the nature of specified income, and filing income tax returns as required.
Key Entities Referenced
Income-tax Act, 1961: A law of India relating to income tax.
Central Board of Direct Taxes: A department under the Ministry of Finance, Government of India.
Uttarakhand Real Estate Regulatory Authority, Dehradun: An authority constituted by the Government of Uttarakhand.
Government of Uttarakhand: The state government of Uttarakhand, India.
Real Estate Regulation and Development Act, 2016: An act related to the regulation and promotion of the real estate sector in India.
Right to Information Act, 2005: An Act to provide for setting out the practical regime of right to information for citizens to secure access to information under the control of public authorities
Ministry of Finance: A ministry of the Government of India responsible for financial matters.
New Delhi: The capital of India
jftLVªh laö Mhö ,yö&33004@99 REGD. NO. D. L.-33004/99
vlk/kj.k
EXTRAORDINARY
Hkkx II—[k.M 3—mi&[k.M (ii)
PART II—Section 3—Sub-section (ii)
izkf/dkj ls izdkf'kr
PUBLISHED BY AUTHORITY
la- 3806] ubZ fnYyh] cq/okj] flrEcj 26] 2018@vkf'ou 4] 1940
No. 3806] NEW DELHI, WEDNESDAY, SEPTEMBER 26, 2018/ASVINA 4, 1940
िव(cid:3)त मं(cid:8)ालय
((((राज(cid:4) व िवभाग))))
(के(cid:9) (cid:10)ीय (cid:13)(cid:14) य(cid:15) कर बोड)(cid:19)
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:22)द(cid:24) ली, 26 िसत(cid:26) बर, 2018
ककककाााा....आआआआ. 4444999988884444((((अअअअ))))....—आयकर अिधिनयम, 1961 (1961 का 43) क(cid:2) धारा 10 के खंड (46) (cid:3)ारा (cid:6)द(cid:8) शि(cid:11)य(cid:13) का
(cid:6)योग करते (cid:16)ए, क(cid:18)(cid:19) सरकार एतद(cid:3)ारा उ(cid:11) खंड के उ(cid:22)े(cid:24)य क(cid:2) प(cid:27)ू त हते ,ु ‘उ(cid:8)राखंड भ-ू स पदा िविनयामक (cid:6)ािधकरण’,
दहे रादनू जो$क उ(cid:8)राखंड सरकार (cid:3)ारा ग%ठत िनकाय ह,ै को उस े होने वाली िन(िलिखत िविन+द, आय के संबंध म(cid:18)
अिधसिू चत करती ह,ै िजसका .यौरा िन(िलिखत हःै-
(क) सरकार से (cid:6)ा0 सहायता अनदु ान
(ख) भ-ू स पदा (िविनयमन एव ंिवकास) अिधिनयम, 2016 के अंतग2त (cid:6)ा0 पंजीकरण शु4क;
(ग) भ-ू स पदा (िविनयमन एव ंिवकास) अिधिनयम, 2016 के अंतग2त (cid:6)ा0 आवेदन शु4क;
(घ) भ-ू स पदा (िविनयमन एव ंिवकास) अिधिनयम, 2016 म(cid:18) $दए गए (cid:6)ावधान(cid:13) के उ4लघनं के िलए जमु ा2ना;
(ड़) भ-ू स पदा (िविनयमन एव ंिवकास) अिधिनयम, 2016 के अंतग2त (cid:6)ा0 िवलंब शु4क;
(च) सुचना का अिधकार अिधिनयम, 2005 के अंतग2त (cid:6)ा0 शु4क;
(छ) भ-ू स पदा (िविनयमन एव ं िवकास) अिधिनयम, 2016 के खडं 75(1)(ग) के अनसु ार उपय(cid:11)ु2 रािशय(cid:13) पर
उपा(cid:27)जत .याज।
5648 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
2. यह अिधसूचना इन शत7 के अ8यधीन (cid:6)भावी होगी $क ‘उ(cid:8)राखंड भ-ू स पदा िविनयामक (cid:6)ािधकरण’, दहे रादनू -
(क) $कसी भी ;ावसाियक गितिविध म(cid:18) शािमल नह= होगा;
(ख) काय2कलाप और िवशेष आय क(cid:2) (cid:6)कृित, िव(cid:8)ीय वष7 के दौरान अप%रव(cid:27)तत रहगे ी; और
(ग) आयकर अिधिनयम, 1961 क(cid:2) धारा 139 क(cid:2) उपधारा – 4(ग) के खंड (छ) के (cid:6)ावधान के अनसु ार आय क(cid:2)
िववरणी दायर करेगा।
3. यह अिधसूचना िनधार2 ण वष2 2018-19 के िलए लागू समझी जाएगी और िनधार2 ण वष2 2019-20, 2020-
21, 2021-22 और 2022-23 के िलए लागू होगी।
[अिधसूचना स.ं 57/2018/ फा. स.ं 300196/41/2018-आईटीए-I]
िवनयशील गौतम, अवर सिचव
(cid:1)(cid:1)(cid:1)(cid:1)ाााा(cid:3)(cid:3)(cid:3)(cid:3)ययययाााा(cid:5)(cid:5)(cid:5)(cid:5)ममममकककक (cid:8)(cid:8)(cid:8)(cid:8)ाााापपपपननननःःःः यह (cid:6)मािणत $कया जाता ह ै $क इस अिधसूचना को भूतल@ी (cid:6)भाव स े लागू $कए जाने से कोई भी ;ि(cid:11)
(cid:6)ितकूल Aप स े(cid:6)भािवत नह= होगा।
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 26th September, 2018
S.O. 4984(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, ‘Uttarakhand Real Estate
Regulatory Authority’, Dehradun, an authority constituted by the Government of Uttarakhand, in respect of the following
specified income arising to that authority, namely:-
(a) Grants-in-aid received from Government;
(b) Registration fees received under the Real Estate (Regulation and Development) Act, 2016;
(c) Application fees received under the Real Estate (Regulation and Development) Act, 2016;
(d) Penalties for violation of provisions contained in the Real Estate (Regulation and Development) Act,
2016;
(e) Late fees received under the Real Estate (Regulation and Development) Act, 2016;
(f) Fees received under the Right to Information Act, 2005;
(g) Interest accrued on above amounts as per clause 75(1)(c) of the Real Estate (Regulation and
Development) Act, 2016.
2. This notification shall be effective subject to the conditions that Uttarakhand Real Estate Regulatory
Authority, Dehradun,-
(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, 1961.¹Hkkx IIµ[k.M 3(ii) Hkkjr dk jkti=k % vlk/kj.k 3
3. This notification shall be deemed to have been applied for the assessment years 2018-2019 and shall
apply with respect to the assessment years 2019-2020, 2020-2021, 2021-2022 and 2022-2023.
[Notification No. 57/2018/F.No.300196/41/2018-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.
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.