**Executive Summary**
The Central Board of Direct Taxes (CBDT) issued notification S.O. 4190(E) on July 29, 2026, granting income tax exemptions to the Kerala Real Estate Regulatory Authority under the Income-tax Act, 1961. This notification applies retrospectively for Assessment Years 2023-24 through 2026-27, corresponding to the financial years 2022-23 to 2025-26. The exemption is contingent upon the Authority’s adherence to specific operational conditions and filing requirements.
**Key Points / Main Content**
**Legal Framework and Transition**
* The notification is issued under the transitional provisions of Section 536(2) of the Income-tax Act, 2025, which maintains certain provisions and exemptions of the repealed Income-tax Act, 1961.
* Proceedings initiated before or after April 1, 2026, regarding tax years starting before that date, will continue to be governed by the 1961 Act's procedures.
**Specified Exempt Income**
The following income sources for the Kerala Real Estate Regulatory Authority (PAN: AAAGK1025N) are notified for exemption under Section 10(46) of the 1961 Act:
* Fees collected for the registration of projects, agents, or plots.
* Fees received for filing compensation and complaints.
* Grants received from the government.
**Mandatory Compliance Conditions**
The exemption is valid only if the Authority:
* Refrains from engaging in any commercial activity.
* Ensures that the nature of its activities and specified income remains unchanged across financial years.
* Files its return of income as per the provisions of Section 139(4C)(g) of the 1961 Act.
**Enforcement and Penalties**
* Failure to comply with the prescribed conditions will result in the withdrawal of the tax exemption.
* Non-compliance will trigger the initiation of penal actions under the provisions of the Income-tax Act, 1961.
**Impact Analysis**
**Kerala Real Estate Regulatory Authority (KRERA)**
**Impact**
The Authority receives a retrospective tax exemption on its primary revenue streams (fees and grants) for the financial years 2022-23 to 2025-26.
**Action Required**
The Authority must file its income tax returns in accordance with Section 139(4C)(g) and strictly avoid commercial activities to maintain its exempt status.
**Income Tax Authorities / Central Board of Direct Taxes**
**Impact**
The department is responsible for overseeing the transition between the 1961 and 2025 Acts regarding this entity's assessments.
**Action Required**
Authorities must monitor the compliance of KRERA and are empowered to initiate penal proceedings or withdraw exemptions if the specified conditions are violated.
Key Entities Referenced
Kerala Real Estate Regulatory Authority: The specific body established by the Government of Kerala that is granted income tax exemptions under this notification.
Income-tax Act, 1961: The primary legislation under which Section 10(46) provides tax exemptions for specified income of certain authorities or bodies.
Income-tax Act, 2025: The law that repealed the 1961 Act but maintains the validity of certain exemptions and proceedings through Section 536.
Real Estate (Regulation and Development) Act, 2016: The central legislation under which the Kerala Real Estate Regulatory Authority was constituted.
Central Board of Direct Taxes: The regulatory authority within the Ministry of Finance that issued this notification to specify exempt income.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-29072026-274938
CG-DLxx-xEG-I2D9H0x7x2x0 26-274938
xxxGIDExxx
असाधारण
EXTRAORDINARY
भाग II—खण्ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 4020] नई दिल्ली, बधु िार, िलु ाई 29, 2026/श्रािण 7, 1948
No. 4020] NEW DELHI, WEDNESDAY, JULY 29, 2026/SHRAVAN 7, 1948
जित्त मत्रं ालय
(रािस्ट्ि जिभाग)
(केंद्रीय प्रत्यक्ष कर बोडड)
अजधसचू ना
नई दिल्ली, 29 िुलाई, 2026
का.आ. 4190(अ).— जबकि, आयिर अधिधियम, 1961 (1961 िा 43) िी िारा 10 (46) म ें िुछ धििायों या
प्राधििरणों या बोर्डों या ट्रस्टों या आयोगों िी धिर्दिष्ट आय िी छूट िा प्राविाि किया गया ह,ै जैसा कि िेंद्र सरिार द्वारा
उस िारा िे प्रयोजिों िे धिए आधििाररि राजपत्र म ेंअधिसूधित किया जाए;
और जबकि, आयिर अधिधियम, 1961 (1961 िा 43) िो आयिर अधिधियम, 2025 (2025 िा 30) िी िारा
536 (1) द्वारा जनरजसत िर कदया गया था;
और जबकि, आयिर अधिधियम, 2025 (2025 िा 30) िी िारा 536(2)(क) और (ख), अन्य बातों िे साथ-साथ,
यह प्रािधान िरती ह ै कि आयिर अधिधियम, 1961 (1961 िा 43) (इसिे बाद 1961 िे अधिधियम िे रूप म ें संदर्भित)
िे धिरसि िे बावजदू और उसिे उप-िारा (4), के जनम्नजलजखत को िुछ भी अध्यधीन प्रभाधवत िहीं िरेगा-
5804 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(i) 1961 िे अधिधियम िे प्राविािों िा धपछिा संिािि और िोई आदेश या उसिे तहत धवधिवत किया गया
कृत्य या हाजन; या
(ii) 1961 िे अधिधियम या उस अधिधियम िे तहत आदेशों िे तहत प्राप्त, अर्जित या किए गए किसी भी अधििार,
धवशेषाधििार, िेनिारी या दाधयत्व;
और जबकि, आयिर अधिधियम, 2025 (2025 िा 30) िी िारा 536(2)(ग) म ें प्राविाि ह ै कि 1 अप्रैि, 2026 स े
पहि े शुरू होि े वाि े किसी भी िर वष ि िे संबंि म ें 1961 िे अधिधियम िे प्राविाि आयिर अधिधियम, 2025
(2025 िा 30) िे शुरू होि े िी तारीख िो िंधबत किसी भी िायिवाही पर और 1 अप्रैि, 2026 िो या उसिे बाद शुरू िी
गई किसी भी िायिवाही पर िाग ू रहेंगे (िोरटस सधहत जनधाडरण, पुन:जनधाडरण, पुिगिणिा, सुिार, जुमाििा, सदं भि, संशोिि
और अपीि सजहत) और ऐसी िायिवाही 1961 िे अधिधियम म ेंधिर्दिष्ट कायडिाही िे अिुसार िी जाएगी;
और जबकि, आयिर अधिधियम, 2025 (2025 िा 30) िी िारा 536(2)(ई) म ें प्राविाि ह ै कि किसी भी आयिर
प्राधििरण या धिरस्त आयिर अधिधियम, अपीिीय न्यायाधििरण, या किसी भी अदाित िे तहत गरित किसी अन्य
प्राधििरण िे समक्ष इसिे शुरू होिे िी तारीख िो िंधबत िोई भी िायिवाही, आवेदि, अपीि, संदभि या संशोिि िे माध्यम
स े या किसी अन्य माध्यम स,े जारी रखा और धिपटाया जाएगा िबदक यह अधिधियम अधिधियधमत िहीं किया गया था;
अत: िेंद्र सरिार अब, आयिर अधिधियम, 2025 (2025 िा 30) िी िारा 536(2)( क) स े(ग) और (ङ) िे प्राविािों
िे अिुसरण म,ें एतद्द्वारा 1961 िे अधिधियम िी िारा 10 (46) िे प्रयोजिों िे धिए “िेरि ररयि एस्टेट धियामि
प्राधििरण” (पैि: AAAGK1025N), िो दक ररयि एस्टेट (धवधियमि और धविास) अधिधियम, 2016 (2016 का 16) िी
िारा 20 िी उप-िारा (1) िे तहत िेरि सरिार द्वारा गरित एि प्राधििरण ह,ै उस प्राधििरण िो उत्पन्न होिे वािी
धिम्नधिधखत धवधिर्दिष्ट आय िे संबंि म ें अधिसूधित िरती ह,ै अथाित्: -
(ि) पररयोजिाओं/ अजभकताओंड /भूखंर्डों िे पंजीिरण िे धिए एित्र िी गई िुल्क।
(ख) मुआवजा और धशिायत दजि िरि ेहेत ु प्राप्त िुल्क; तथा
(ग) सरिारी अिदु ाि।
2. यह अधिसिू िा इि शतों िे अिीि लागू होगी कि कदल्िी प्रदषू ण धियंत्रण सधमधत –
(ि) किसी भी व्यावसाधयि कायकड लाप म ेंसंजलप्त िहीं होगी;
(ख) इसके कायकड लाप और धिर्दिष्ट आय िी प्रिृधत पूरे धवत्तीय वषि में अपररवर्तति रहेगी; तथा
(ग) 1961 के अधिधियम िे 139(4ग)(छ) िे प्राविािों िे अिसु ार आय िी धववरणी दाधखि िरेगी।
3. इि शतों िा पािि िरिे म ें धवफिता िे पररणामस्वरूप 1961 िे अधिधियम िे प्राविािों िे तहत दंर्डात्मि िारिवाई
शुरू िी जाएगी, और 1961 िे अधिधियम िी िारा 10(46) िे तहत दी गई छूट वापस िे िी जाएगी।
4. यह अधिसिू िा धवत्तीय िर्षों 2022-23, 2023-24, 2024-25 और 2025-26 से संबंजधत कर जनधाडरण
िर्षों 2023-24, 2024-25, 2025-26 और 2026-27 िे धिए िागू मािी जाएगी।
[अधिसूििा स.ं 101/2026/फा. स.ं 300196/88/2024-आईटीए-I]
हरदेव ससंह, अवर सधिव[भाग II—खण्ड 3(ii)] भारत का रािपत्र : असाधारण 3
स्ट्पष्टीकरण सबं जं धत ज्ञापि
यह प्रमाधणत किया जाता ह ै कि इस अधिसूििा िो पूवव्यि ापी प्रभाव (िेंद्रीय प्रत्यक्ष िर बोर्ड ि या आयिर धवभाग िे समक्ष
दायर किए गए आवेदि िे वषि स)े देिे स े किसी भी व्यधि िे धहतों पर प्रधतिूि प्रभाव िहीं पड़ रहा है।
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 29th July, 2026
S.O. 4190(E).— Whereas, section 10 (46) of the Income-tax Act, 1961 (43 of 1961) provided for exemption
of specified income of certain bodies or authorities or Boards or Trusts or Commissions as may be notified by the
Central Government in the Official Gazette for the purposes of that section;
And whereas, the Income-tax Act, 1961 (43 of 1961) was repealed by section 536 (1) of the Income-tax Act,
2025 (30 of 2025);
And whereas, section 536(2)(a) and (b) of the Income-tax Act, 2025 (30 of 2025), inter alia, provides that
irrespective of the repeal of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the Act of 1961) and
subject to sub-section (4) thereof, nothing shall affect-
(i) the previous operation of the provisions of the Act of 1961 and any order or anything duly done or suffered
thereunder; or
(ii) any right, privilege, obligation or liability acquired, accrued or incurred under the Act of 1961 or orders under
that Act;
And whereas, section 536(2)(c) of the Income-tax Act, 2025 (30 of 2025) provides that the provisions of the
Act of 1961 shall continue to apply to any proceeding pending on the date of commencement of the Income-tax Act,
2025 (30 of 2025) and to any proceedings initiated on or after the 1st April, 2026 (including notices, assessment,
reassessment, recomputation, rectification, penalty, reference, revision and appeals) in respect of any tax year beginning
before the 1st April, 2026 and such proceedings shall be carried out as per the procedure specified in the Act of 1961;
And whereas, section 536(2)(e) of the Income-tax Act, 2025 (30 of 2025) provides that any proceeding pending
on the date of its commencement before any income-tax authority or any other authority constituted under the repealed
Income-tax Act, Appellate Tribunal, or any court, by way of application, appeal, reference or revision or by any other
means, shall be continued and disposed of as if this Act had not been enacted;
Now, therefore, in pursuance of the provisions of section 536(2) (a) to (c) and (e) of the Income-tax Act, 2025
(30 of 2025), the Central Government hereby notifies, for the purposes of section 10 (46) of the Act of 1961, “Kerala
Real Estate Regulatory Authority” (PAN:AAAGK1025N), an Authority constituted by Government of Kerala under
sub-section (1) of Section 20 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016), in respect of the
following specified income arising to the said authority, namely :-
(a) fees collected for registration of projects / agents / plot.
(b) fees for filing compensation and complaint; and
(c) government grants.
2. This notification shall be effective subject to the conditions that the Kerala Real Estate Regulatory Authority –
(a) shall not engage in any commercial activity;
(b) its 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 provisions of section 139(4C) (g) of the Act of 1961.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
3. Failure to comply with these conditions shall result in the initiation of penal actions under the provisions of the Act
of 1961, and withdrawal of exemption granted under section 10(46) of the Act of 1961.
4. This notification shall be deemed to have been applied for assessment years 2023-24, 2024-25, 2025-26 and 2026-27
relevant for the financial years 2022-23, 2023-24, 2024-25 and 2025-2026.
[Notification No. 101/2026/F. No. 300196/88/2024-ITA-I]
HARDEV SINGH, Under Secy.
Explanatory Memorandum
It is certified that the interests of no person are being adversely affected by giving retrospective effect [with effect from
the year of application filed before the Board or Income-tax Department] 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.