Home India Ministry of Finance Notification under section 536 (1) of the Income Tax Act 202...
Date: 2026-07-27 Category: Extra Ordinary State: Union Government Country: India

Notification under section 536 (1) of the Income Tax Act 2025 (30 of 2025) in the case of Chhattisgarh Real Estate Regulatory Authority

Issued by Ministry of Finance · Department of Revenue

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

**Executive Summary** This notification, issued by the Central Board of Direct Taxes on July 27, 2026, grants income tax exemptions to the Chhattisgarh Real Estate Regulatory Authority under the Income-tax Act, 1961. Despite the repeal of the 1961 Act by the Income-tax Act, 2025, transitional provisions allow for this exemption for specified income streams. The notification is retrospectively effective for Assessment Years 2024-25, 2025-26, and 2026-27, subject to strict operational conditions and filing requirements. **Key Points / Main Content** **Legal Framework and Transition** * The Income-tax Act, 1961 was repealed by section 536(1) of the Income-tax Act, 2025. * Provisions of the 1961 Act continue to apply to proceedings pending before April 1, 2026, and certain proceedings initiated thereafter for prior tax years. * The Central Government maintains the authority to notify exemptions for specific bodies under section 10(46) of the 1961 Act during this transition. **Exempted Entity and Income** * **Entity:** Chhattisgarh Real Estate Regulatory Authority (PAN: AAAJC1049H). * **Specified Exempt Income:** * Grants-in-aid, loans, or advances received from the Government. * Fees and penalties collected from builders, developers, agents, or stakeholders under the Real Estate (Regulation and Development) Act, 2016. * Interest earned on the aforementioned grants, loans, fees, and penalties. **Compliance Conditions** * The Authority is strictly prohibited from engaging in any commercial activity. * The nature of the specified income and the Authority’s activities must remain unchanged throughout the relevant financial years. * The Authority must file its return of income in accordance with section 139(4C)(g) of the Income-tax Act, 1961. **Enforcement and Applicability** * Failure to meet prescribed conditions will result in the withdrawal of the exemption and the initiation of penal actions under the 1961 Act. * The notification applies to Financial Years 2023-24, 2024-25, and 2025-26. * An explanatory memorandum confirms that the retrospective application does not adversely affect the interests of any person. **Impact Analysis** **Chhattisgarh Real Estate Regulatory Authority** **Impact** The Authority receives a tax-exempt status for its primary revenue streams (grants, fees, and penalties) for a three-year period. This ensures that funds intended for regulatory purposes are not diminished by income tax liabilities. **Action Required** The Authority must ensure it does not engage in commercial activities, maintain the consistency of its specified income types, and diligently file income tax returns under the 1961 Act. **Income Tax Department (Central Board of Direct Taxes)** **Impact** The department is responsible for overseeing the transition between the 1961 and 2025 Acts regarding this specific entity. It retains the power to audit and penalize the entity if conditions are breached. **Action Required** The department must monitor the Authority's filings for Assessment Years 2024-25 through 2026-27 to ensure compliance with the exemption conditions.

Key Entities Referenced

Chhattisgarh Real Estate Regulatory Authority: The primary entity established by the State Government of Chhattisgarh which is being granted income tax exemptions for specified income. Income-tax Act, 1961: The legislation providing the basis for tax exemptions under Section 10(46) for certain bodies, authorities, or commissions. Income-tax Act, 2025: The successor legislation that repealed the 1961 Act and provides transitional powers under Section 536 to issue notifications. Central Board of Direct Taxes: The regulatory body within the Ministry of Finance responsible for the administration of direct tax laws and issuing this notification. Real Estate (Regulation and Development) Act, 2016: The act under which the Chhattisgarh RERA receives fees and penalties that constitute its specified exempt income.
Official Source Record View Original Source →
See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-27072026-274868 xxxGIDHxxx CG-DL-E-27072026-274868 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण्ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 3951] नई दिल्ली, सोमिार, िलु ाई 27, 2026/श्रािण 5, 1948 No. 3951] NEW DELHI, MONDAY, JULY 27, 2026/SHRAVAN 5, 1948 जित्त मत्रं ालय (रािस्ट्ि जिभाग) (केंद्रीय प्रत्यक्ष कर बोडड) अजधसचू ना नई दिल्ली, 27 िुलाई, 2026 का.आ. 4121(अ).— िबदक, आयकर अजधजनयम, 1961 (1961 का 43) की धारा 10 (46) म ें कुछ जनकायों या प्राजधकरणों या बोडों या रस्ट्टों या आयोगों की जनर्दिष्ट आय की छूट का प्रािधान दकया गया ह,ै िैसा दक केंद्र सरकार द्वारा उस धारा के प्रयोिनों के जलए आजधकाररक रािपत्र में अजधसूजचत दकया िाए; और िबदक, आयकर अजधजनयम, 1961 (1961 का 43) को आयकर अजधजनयम, 2025 (2025 का 30) की धारा 536 (1) द्वारा जनरजसत कर दिया गया था; और िबदक, आयकर अजधजनयम, 2025 (2025 का 30) की धारा 536(2)(क) और (ख), अन्य बातों के साथ- साथ, यह प्रािधान करती ह ै दक आयकर अजधजनयम, 1961 (1961 का 43) (इसके बाि 1961 के अजधजनयम के रूप म ें संिर्भभत) के जनरसन के बािििू और उसके उप-धारा (4), के जनम्नजलजखत को कुछ भी अध्यधीन प्रभाजित नहीं करेगा- (i) 1961 के अजधजनयम के प्रािधानों का जपछला सचं ालन और कोई आिेि या उसके तहत जिजधित दकया गया कृत्य या हाजन; या 5716 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] (ii) 1961 के अजधजनयम या उस अजधजनयम के तहत आििे ों के तहत प्राप्त, अर्भित या दकए गए दकसी भी अजधकार, जििेषाजधकार, िेनिारी या िाजयत्ि; और िबदक, आयकर अजधजनयम, 2025 (2025 का 30) की धारा 536(2)(ग) म ें प्रािधान ह ै दक 1 अप्रैल, 2026 स े पहले िुरू होन े िाले दकसी भी कर िषड के संबंध में 1961 के अजधजनयम के प्रािधान आयकर अजधजनयम, 2025 (2025 का 30) के िुरू होने की तारीख को लंजबत दकसी भी कायडिाही पर और 1 अप्रैल, 2026 को या उसके बाि िुरू की गई दकसी भी कायडिाही पर लागू रहेंगे (नोरटस सजहत जनधाडरण, पुन:जनधाडरण, पुनगडणना, सुधार, िुमाडना, संिभ,ड संिोधन और अपील सजहत) और ऐसी कायडिाही 1961 के अजधजनयम म ें जनर्दिष्ट कायडिाही के अनसु ार की िाएगी; और िबदक, आयकर अजधजनयम, 2025 (2025 का 30) की धारा 536(2)(ई) म ें प्रािधान ह ै दक दकसी भी आयकर प्राजधकरण या जनरस्ट्त आयकर अजधजनयम, अपीलीय न्यायाजधकरण, या दकसी भी अिालत के तहत गरित दकसी अन्य प्राजधकरण के समक्ष इसके िुरू होने की तारीख को लजं बत कोई भी कायडिाही, आिेिन, अपील, संिभड या संिोधन के माध्यम स े या दकसी अन्य माध्यम स,े िारी रखा और जनपटाया िाएगा िबदक यह अजधजनयम अजधजनयजमत नहीं दकया गया था; अत: केंद्र सरकार अब, आयकर अजधजनयम, 2025 (2025 का 30) की धारा 536(2)( क) स े (ग) और (ङ) के प्रािधानों के अनुसरण म,ें एतद्द्वारा 1961 के अजधजनयम की धारा 10 (46) के प्रयोिनों के जलए "छत्तीसगढ़ भ-ू सम्पिा जिजनयामक प्राजधकरण प्राजधकरण (पैन AAAJC1049H)", िो छत्तीसगढ़ राज्य सरकार द्वारा गरित एक प्राजधकरण ह,ै उस प्राजधकरण को उत्पन्न होने िाली जनम्नजलजखत जिजनर्दिष्ट आय के संबंध म,ें अथाडत्:- (क) सरकार स ेसहायता अनिु ान या ऋण/अजिम के रूप म ेंप्राप्त राजि; (ख) भ-ू सम्पिा (जिजनयमन एि ं जिकास) अजधजनयम, 2016 (2016 का 16) के प्रािधानों के अनुसार जबल्डरों/डेिलपरों, एिेंटों या दकसी अन्य जहतधारकों स े प्राप्त िल्ु क/िुमानड ा; तथा (ग) उपरोक्त (क) और (ख) पर अर्भित ब्याि। 2. यह अजधसचू ना इन ितों के अधीन लागू होगी दक छत्तीसगढ़ भ-ू सम्पिा जिजनयामक प्राजधकरण– (क) दकसी भी व्यािसाजयक कायकड लाप म ेंसंजलप्त नहीं होगी; (ख) इसके कायकड लाप और जनर्दिष्ट आय की प्रकृजत पूरे जित्तीय िषड म ें अपररिर्भतत रहेगी; तथा (ग) 1961 के अजधजनयम के 139(4ग)(छ) के प्रािधानों के अनसु ार आय की जििरणी िाजखल करेगी। 3. इन ितों का पालन करने म ें जिफलता के पररणामस्ट्िरूप 1961 के अजधजनयम के प्रािधानों के तहत िडं ात्मक कारडिाई िुरू की िाएगी, और 1961 के अजधजनयम की धारा 10(46) के तहत िी गई छूट िापस ले ली िाएगी। 4. यह अजधसचू ना जित्तीय िषों 2023-24, 2024-25 और 2025-26 से संबंजधत कर जनधाडरण िषों 2024-25, 2025-26 और 2026-27 के जलए लागू मानी िाएगी। [अजधसूचना स ं 99 /2026/ फा. स.ं300196/16/2024-आईटीए-I] हरिेि ससह, अिर सजचि स्ट्पष्टीकरण सबं जं धत ज्ञापन यह प्रमाजणत दकया िाता ह ै दक इस अजधसूचना को पूिव्यड ापी प्रभाि (केंद्रीय प्रत्यक्ष कर बोड ड या आयकर जिभाग के समक्ष िायर दकए गए आिेिन के िषड स)े िेने स े दकसी भी व्यजक्त के जहतों पर प्रजतकूल प्रभाि नहीं पड़ रहा है।[भाग II—खण्ड 3(ii)] भारत का रािपत्र : असाधारण 3 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 27th July, 2026 S.O. 4121(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 1 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, " Chhattisgarh Real Estate Regulatory Authority (PAN: AAAJC1049H) ”, an authority constituted by the State Government of Chhattisgarh, in respect of the following specified income arising to that authority, namely:- (a) amount received as Grant-in-aid or loan / advance from Government; (b) fee/penalty received from builders/developers, agents or any other stakeholders as per the provisions of the Real Estate (Regulation and Development) Act, 2016; and (c) interest earned on (a) and (b) above. 2. This notification shall be effective subject to the conditions that Chhattisgarh 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 the assessment years 2024-25, 2025-26 and 2026-27 relevant to the financial years 2023-24, 2024-25 and 2025-26. [Notification No. 99 /2026/ F.No.300196/16/2024-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.

Continue your research