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The Central Government notifies the Punjab State Electricity Regulatory Commission for income tax exemption under section 10 clause 46 of the Income-tax Act 1961. The exemption applies to specified income from processing fees, licence fees, petition fees, and bank deposit interest. The Commission must not engage in commercial activity. The activities and nature of 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 2021-2022, 2022-2023, 2023-2024, 2024-2025, and 2025-2026.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 13th October, 2021
S.O. 4263(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, ‘Punjab State Electricity Regulatory Commission’, Chandigarh (PAN- AAAGT0052L), a commission established by the state government of Punjab, in respect of the following specified income arising to the Commission, namely:-
[Notification No. 121 /2021 F.No.300196/5/2021-ITA-I] SOURABH JAIN, Under Secy.
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