Specified income tax exemption for a real estate regulator depends on non-commercial activity, unchanged income sources, and return compliance. Tax exemption is notified for specified income of the Kerala Real Estate Regulatory Authority, comprising registration fees for projects, agents and plots, fees for compensation claims and complaints, and government grants. The Authority must not engage in commercial activity, must maintain unchanged activities and specified income, and must comply with the applicable income-tax return-filing requirement. Non-compliance may attract penal action and withdrawal of the exemption. The notification operates retrospectively for the stated assessment years under the transitional framework preserving application of the repealed Income-tax Act, 1961.