Ministry of Finance, through Notification No. 16/2025 dated February 12, 2025, has notified the Real Estate Regulatory Authority (RERA), Punjab, for tax exemption under Section 10(46A)(b) of the Income-tax Act, 1961. This notification grants tax-exempt status to Punjab RERA, an authority established under The Real Estate (Regulation and Development) Act, 2016. The exemption is effective from the assessment year 2024-25, provided the authority continues to operate for the specified purposes under Section 10(46A)(a) of the Income-tax Act.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 16/2025- Income Tax| Dated: 12th February, 2025
S.O. 731(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 Real Estate Regulatory Authority, Punjab (PAN: AAAJR1281N) (hereinafter referred to as “the assessee”), an authority constituted under The Real Estate (Regulation and Development) Act, 2016 (No. 16 of 2016), 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 an authority constituted under The Real Estate (Regulation and Development) Act, 2016 (No. 16 of 2016) 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. 16/2025/F. No. 300195/31/2024-ITA-I]
ASHWANI KUMAR, Under Secy.
