CBDT Notifies ‘Bihar Electricity Regulatory Commission’ for Exemption Under Section 10(46)

CBDT Notifies ‘Bihar Electricity Regulatory Commission’ for Exemption Under Section 10(46) The Central Board of Direct Taxes(CBDT) Vide Notification No. 81/2022 dated 8th July 2022 Notifies ‘Bihar Electricity Regulatory Commission’ for Exemption Under Section 10(46). The Notification is Given Below: S.O. 3142(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, ‘Bihar Electricity Regulatory Commission’ (PAN AAALB1099E), a Commission constituted by the State Government of Bihar, in respect of the following specified income arising to that Commission, namely:

(a) amount received as licence fee from licensees in electricity;

(b) amount received as application processing fee; and

(c) Interest earned on Government Grants and on (a) & (b) above.

2. This notification shall be effective subject to the conditions that Bihar Electricity Regulatory Commission:-

(a) shall not engage in any commercial activity;

(b) activities and the nature of the specified income shall remain unchanged throughout the financial 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 be deemed to have been applied for the financial year 2021-2022 and shall be applicable with respect to the financial years 2022-2023, 2023-2024, 2024-2025 and 2025-2026. For Official Notification Download PDF Given Below: