MINISTRY OF FINANCE

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION

New Delhi, the 27th March, 2026

S.O. 1623(E).—In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the Incometax Act, 1961 (43 of 1961), (hereinafter referred to as “the Income-tax Act”), the Central Government hereby notifies ‘Improvement Trust, Sangrur’ (PAN: AAATI6009F) (hereinafter referred to as “the assessee”), a trust constituted under ‘The Punjab Town Improvement Act, 1922’(Punjab Act 4 of 1922), for the purposes of the said clause.  

2. This notification shall be effective from the assessment year 2025-26, subject to the condition that the assessee continues to be a trust constituted under ‘The Punjab Town Improvement Act, 1922(Punjab Act 4 of 1922)’ with one or more of the purposes specified in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act.  

[NOTIFICATION No. 34 /2026/F.No. 300195/38/2024-ITA-I]

HARDEV SINGH, Under Secy.  

Explanatory Memorandum

It is certified that no person is being adversely affected by giving retrospective effect (with effect from the year of filing of application before the board/Income tax Department) to this notification.