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The Central Government notifies specified income of the Andhra Pradesh Electricity Regulatory Commission for tax exemption under section 10 clause 46 of the Income-tax Act 1961. The specified income includes licence fees, grants-in-aid, and interest earned on those amounts. 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 a return of income under section 139 sub-section 4C clause g of the Income-tax Act 1961. This notification applies to the assessment years 2019-2020 through 2023-2024.
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2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 19th March, 2019 S.O. 1397(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, ‘Andhra Pradesh Electricity Regulatory Commission’, Hyderabad, a Commission constituted under the Andhra Pradesh Electricity Reforms Act, 1998 (Government of Andhra Pradesh Act 30 of 1998), in respect of the following specified income arising to that Commission, namely:—
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