CBDT exempts income of Jharkhand State Electricity Regulatory Commission

CBDT exempts income of Jharkhand State Electricity Regulatory Commission U/S 10(46) of Income Tax Act 1961

CBDT exempts income of Jharkhand State Electricity Regulatory Commission

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NUMBER 51/2018 New Delhi, the 14th September, 2018

S.O. 4865(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, Jharkhand State Electricity Regulatory Commission, Ranchi, a commission constituted by the State government of Jharkhand, in respect of the following specified income arising to the said Commission, namely: (a) Grants-in-aid from the State government of Jharkhand; (b) Petition fees; (c) License fees from Licensee under the Electricity Act 2003; (d) Application fees; (e) Fees for documents; (f) Fees received under the provisions of the Right to Information Act, 2005; and (g) Interest income on (a) to (f) above. 2. This notification shall be effective subject to the conditions that Jharkhand State Electricity Regulatory Commission, Ranchi,- (a) shall not engage in any commercial activity; (b) activities and the nature of the specified income shall remain unchanged throughout the assessment years; and (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. 3. This notification shall apply with respect to the assessment years 2019-2020, 2020-2021, 2021-2022, 2022-2023 and 2023-2024.

[Notification No. 51/2018/F. No. 300196/23/2018-ITA-I] VINAY SHEEL GAUTAM, Under Secy.