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The Central Government notifies specified income of the Madhya Pradesh Electricity Regulatory Commission for tax exemption under section 10 clause 46 of the Income-tax Act, 1961. The specified income includes petition fees, interest on savings, fines, charges, and incidental income from grants, tender document sales, processing fees, certified copying fees, newspaper sales, license fees, vehicle rent, staff loan interest, Right to Information receipts, and tariff book distribution. The Commission must not engage in any commercial activity. The activities and the nature of the specified income must remain unchanged throughout the financial years. The Commission must file returns of income under section 139 sub-section 4C clause g. The notification applies retrospectively for the financial years 2014-2015, 2015-2016, 2016-2017, 2017-2018 and 2018-2019.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 31st March, 2017
S.O. 1023(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, the Madhya Pradesh Electricity Regulatory Commission, a Commission constituted by the State Government of Madhya Pradesh, in respect of the following specified income arising to that Commission, namely:—
[Notification No. 23/2017/F. No.196/27/2014-ITA-I]
DEEPSHIKHA SHARMA, Director
Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective effect to this notification.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.
SARVESH KUMAR SRIVASTAVA Digitally signed by SARVESH KUMAR SRIVASTAVA Date: 2017.03.31 22:54:22 +05'30'
