Granting Tax Exemption to Fees Regulating Authority in respect of the specified Income under Section 10(46) of the Income-tax Act, 1961 and section 536(2)(a)/(b) of the Income-tax Act, 2025.

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....ICATION NO. 98/2026 New Delhi, the 27th July, 2026 S.O. 4120(E).- Whereas, section 10(46) of the Income-tax Act, 1961 (43 of 1961) provided for exemption of specified income of certain bodies or authorities or Boards or Trusts or Commissions as may be notified by the Central Government in the Official Gazette for the purposes of that section; And whereas, the Income-tax Act, 1961 (4....

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....y to any proceeding pending on the date of commencement of the Income-tax Act, 2025 (30 of 2025) and to any proceedings initiated on or after the 1 April, 2026 (including notices, assessment, reassessment, recomputation, rectification, penalty, reference, revision and appeals) in respect of any tax year beginning before the 1st April, 2026 and such proceedings shall be carried out as per the proce....

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....rashtra, in respect of the following specified income arising to that authority, namely:- (a) processing fees, interest, penalties and other charges payable by Private Professional Educational Institutions; (b) reimbursements/Grants received from Government of Maharashtra; and (c) income from interest on bank deposits and other investments. 2. This notification shall ....