Tax exemption for regulatory authority income applies subject to non-commercial activity, unchanged income character, and tax return compliance. Tax exemption is granted to the Chhattisgarh Real Estate Regulatory Authority for government grants, loans or advances, regulatory fees and penalties, and interest earned on those receipts. The exemption operates under the transitional framework preserving the application of the repealed Income-tax Act, 1961. It is conditional on the Authority not engaging in commercial activity, retaining the same activities and nature of specified income, and filing its income-tax return under the applicable provision. Non-compliance may result in penal action and withdrawal of exemption.