CBDT Revises Assessment Years for APERC’s Income Tax Exemption Under Section 10(46):

The Central Board of Direct Taxes (CBDT), vide Notification No. 24/2019, issued on March 19, 2019, had officially granted income tax exemption to the Andhra Pradesh Electricity Regulatory Commission (APERC), Hyderabad (PAN: AAAGA0114N), in exercise of its powers granted under Section 10(46) of the Income-tax Act, 1961.

The provisions of the aforementioned section authorise CBDT to notify tax exemption to certain bodies, authorities, boards, or trusts established by central or state laws, subject to certain conditions.

Recently, CBDT has issued another Notification No. 140/2026; through it, it has introduced certain key amendments to the earlier Notification No. 24/2019. As per the introduced amendment, the CBDT has revised the list of assessment years in the earlier English notification.

In paragraph no. 3 of Notification No. 24/2019, in place of "this notification shall apply with respect to the assessment year 2019-2020, 2020-2021, 2021-2022, 2022-2023 and 2023-2024", the words "this notification shall apply with respect to the assessment year 2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025" have been replaced.

Key points clarified here are that amendments have only been introduced to the English version of Notification No. 24/2019, while the Hindi version of Notification No. 24/2019, dated March 19, 2019, remains unchanged.

Refer to the official notification for complete information.