Income Tax
The Central Board of Direct Taxes (CBDT), has issued Notification No. 98/2026 dated 27th July, 2026, notifying the Fees Regulating Authority (PAN: AAAJF0167B) under section 10(46) of the Income-tax Act, 1961. The notification exempts its income comprising processing fees, interest, penalties and other charges from private professional educational institutions, grants/reimbursements from the Government of Maharashtra, and interest on bank deposits and investments. The exemption is subject to the conditions that the Authority shall not engage in commercial activities, its activities and specified income remain unchanged, and it files its return under section 139(4C)(g). The notification is effective retrospectively for Assessment Years 2022-23 to 2026-27 (Financial Years 2021-22 to 2025-26).
(Notification No. 98/2026 dated 27th July, 2026)
