On January 19, 2026, the Central Government, in exercise of powers conferred by sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961, notified the 'Barnala Improvement Trust' (PAN: AABTB1345E), an authority constituted under the Punjab Town Improvement Act, 1922 (Punjab Act No. 4 of 1922), as an assessee. The notification is effective from the assessment year 2024-25, provided the assessee remains a local authority constituted under the Punjab Town Improvement Act, 1922 (Punjab Act No. 4 of 1922) with purposes specified in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act. This notification [Notification No. 9 /2026/F. No. 300195/47/2024-ITA-I] is issued by HARDEV SINGH, Under Secy. It is certified that this notification does not adversely affect anyone retrospectively.
Key Entities Referenced
Income-tax Act, 1961: Law under which notification is issued, specifically referring to section 10, clause (46A).
Barnala Improvement Trust: The entity being notified as 'the assessee' under the Income-tax Act.
Punjab Town Improvement Act, 1922: Act under which the Barnala Improvement Trust is constituted.
Ministry of Finance: Issuing authority of the notification through the Department of Revenue and Central Board of Direct Taxes.
2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
2. यह अजधसूचना कर जनधारड ण िष ड 2024-25 स े प्रभािी होगी, बित े दक जनधाडठरती आयकर अजधजनयम की धारा 10 के
खंड (46क) के उप-खडं (क) म ें जिजनर्िडष्ट दकसी एक या एक से अजधक प्रयोिनों से पंिाब नगर सुधार अजधजनयम, 1922
(पंिाब अजधजनयम संख्या 4/1922) के तहत गठित एक स्ट्थानीय प्राजधकरण बना रह।े
[अजधसूचना स.ं 9 /2026/फा. सं. 300195/47/2024-आईटीए-I]
हरिेि ससंह, अिर सजचि
स्ट्पष्टीकरण ज्ञापन
यह प्रमाजणत दकया िाता ह ैदक इस अजधसूचना को भूतलक्षी प्रभाि (बोडड/जिभाग के समक्ष आिेिन दकए िाने के िषड स े
प्रभािी) िेने स ेदकसी भी व्यजि पर प्रजतकूल प्रभाि नहीं पडगे ा।
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 19th January, 2026
S.O. 261(E).— 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 ‘Barnala Improvement Trust’ (PAN: AABTB1345E) (hereinafter referred to as “the assessee”), an authority
constituted under the Punjab Town Improvement Act, 1922 (Punjab Act No. 4 of 1922), for the purposes of the
said clause.
2. This notification shall be effective from the assessment year 2024-25, subject to the condition that the assessee
continues to be a local authority constituted under the Punjab Town Improvement Act, 1922 (Punjab Act No. 4 of
1922) with one or more of the purposes specified in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act.
[Notification No. 9 /2026/F. No. 300195/47/2024-ITA-I]
HARDEV SINGH, Under Secy.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect (with effect from the year of
application made before the Board/Department) to this notification.
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