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Kerala Real Estate Regulatory Authority is notified for...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing.
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Kerala Real Estate Regulatory Authority is notified for exemption under section 10(46) of the Income-tax Act, 1961 for registration fees from projects, agents and plots, fees for compensation and complaint filings, and government grants. The notification operates through the saving provisions of the Income-tax Act, 2025 and applies retrospectively to the specified assessment years. Exemption is conditional on the Authority not undertaking commercial activity, maintaining unchanged activities and specified income, and filing its income-tax return as required. Non-compliance may trigger penal action and withdrawal of the exemption.
Kerala Real Estate Regulatory Authority is notified for exemption under section 10(46) of the Income-tax Act, 1961 for registration fees from projects, agents and plots, fees for compensation and complaint filings, and government grants. The notification operates through the saving provisions of the Income-tax Act, 2025 and applies retrospectively to the specified assessment years. Exemption is conditional on the Authority not undertaking commercial activity, maintaining unchanged activities and specified income, and filing its income-tax return as required. Non-compliance may trigger penal action and withdrawal of the exemption.
Note: It is a system-generated summary and is for quick reference only.