Income-tax Act, 2025: Continuation of Exemptions and Pending Proceedings under Repealed Income-tax Act, 1961

Last updated: 05 August 2026

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This notification clarifies that exemptions and pending legal proceedings under the repealed Income-tax Act, 1961, will continue to be recognised and handled under the new Income-tax Act, 2025. Specifically, the Haryana State Board of Technical Education (HSBTE) has been notified for continued exemption of certain incomes under section 10(46) of the old Act, provided it adheres to specific conditions. This notification is effective from assessment year 2024-25.

MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 3rd August, 2026 S.O. 4307(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in the Official Gazette for the purposes of that section; And whereas, the Income-tax Act, 1961 (43 of 1961) was repealed by section 536 (1) of t

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1 Year PLAN

1999

(Excl. of GST ₹359)

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2 Years PLAN

3499

(Excl. of GST ₹629)

3 Months PLAN

999

(Excl. of GST ₹179)

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FAQ :

Yes, the Income-tax Act, 2025, ensures that rights, privileges, and obligations accrued under the Income-tax Act, 1961, remain unaffected. This includes previously granted exemptions.

Any proceedings pending on the commencement date of the Income-tax Act, 2025, or initiated on or after 1st April 2026 for tax years beginning before 1st April 2026, will continue to be dealt with as per the procedures of the Income-tax Act, 1961.

The Haryana State Board of Technical Education (HSBTE), Panchkula, is notified for continued exemption of specified incomes under section 10(46) of the Income-tax Act, 1961.

HSBTE must not engage in any commercial activity, its activities and income nature must remain unchanged, and it must file its income return as per section 139(4C)(g) of the Act of 1961.

This notification is deemed to have been applied for assessment year 2024-25, which is relevant for the financial year 2023-24.

Failure to comply with the conditions can lead to penal actions under the Income-tax Act, 1961, and the withdrawal of the exemption granted under section 10(46) of the Act of 1961.