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CBDT Notifies Real Estate Regulatory Authority for Income-tax exemption u/s 10(46)


CBDT vide Notification No. 86/2021 in S.O. 3139(E) dated 4th August 2021 notifies ‘Real Estate Regulatory Authority, Himachal Pradesh, Shimla’ having PAN AAAGR1176F for income-tax exemption u/s 10(46) of the Income-tax Act, 1961.

Read the full text of Notification No. 86/2021 dated 4.8.2021


(Department of Revenue) 



New Delhi, the 4th August, 2021

S.O. 3139(E). —In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Real Estate Regulatory Authority’ as specified in the schedule to this notification, constituted by Government in exercise of powers conferred under sub-section (1) of section 20 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016) as a ‘class of Authority’ in respect of the following specified income arising to that Authority, namely:-

(a) Amount received as Grants-in-aid or loan/advance from Government; 

(b) Fee/penalty received from builders/developers, agents or any other stakeholders as per the provisions of the Real Estate (Regulation and Development) Act, 2016;and 

(c) Interest earned on (a) and (b) above.  

2. This notification shall be effective subject to the conditions that Real Estate Regulatory Authority, Himachal Pradesh, Shimla-

(a) shall not engage in any commercial activity;

(b) activities and the nature of the specified income shall remain unchanged throughout the financial years;

(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961; and

(d) shall file the Audit report along with the Return, duly verified by the accountant as provided in explanation to section 288(2) of the Income-tax Act, 1961 along with a certificate from the chartered accountant that the above conditions are satisfied. 

3. This notification shall apply to the Real Estate Regulatory Authority, mentioned at column (2) below, with respect to the assessment years mentioned in column (4) below. 


Sl. No.

Name of the Real Estate Regulatory Authority


Financial Years






Real Estate Regulatory Authority, Himachal Pradesh, Shimla


2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025

[Notification No. 86 /2021 F. No. 300196/11/2020-ITA-I] 


Explanatory Memorandum

It is certified that no person is being adversely affected by giving retrospective effect to this notification. 

Download Copy of Notification No. 86/2021 dated 4.8.2021 in pdf format

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