Tax exemption for regulatory authority income applies subject to non-commercial activity, return filing, and unchanged specified income. Tax exemption is notified for the Kerala Real Estate Regulatory Authority under Schedule III read with section 11 of the Income-tax Act, 2025, covering registration fees, fees for compensation claims and complaints, and government grants. The exemption for the tax year 2026-27 requires that the Authority not undertake commercial activity, file its return of income as required, and maintain unchanged activities and specified income. Non-compliance results in withdrawal of exemption and initiation of proceedings under the Act.