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The Central Government notifies the H P Electricity Regulatory Commission for income tax exemption under section 10 clause 46 of the Income-tax Act, 1961. The exemption applies to specific income sources that include Government grants, license fees from electricity licensees, court or petition fees, and interest earned on investments from these funds. The Commission must not engage in any commercial activity. The activities and nature of the specified income must remain unchanged throughout the financial years. The Commission must file a return of income under section 139 sub-section 4C clause g. The notification applies to the financial years 2022-2023, 2023-2024, 2024-2025, 2025-2026, and 2026-2027.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 19th October, 2022 S.O. 4944(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, ‘H P Electricity Regulatory Commission’ (PAN AAAJH0378N), a Commission constituted by the Government of Himachal Pradesh, in respect of the following specified income arising to that Commission, namely:
