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The Central Government notifies the Rajasthan Electricity Regulatory Commission for specified income tax exemption under section 10 of the Income-tax Act, 1961. The specified income includes petition filing fees, licence fees, and interest earned on investment. 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 return of income in accordance with section 139 of the Income-tax Act, 1961. The notification applies for the period from 01.06.2020 to 31.03.2021 for the financial year 2020-2021 and 2021-2022, and shall apply with respect to the financial years 2022-2023, 2023-2024 and 2024-2025.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 11th April, 2022
S.O. 1769(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, ‘Rajasthan Electricity Regulatory Commission’ (PAN AAABR0296D), a Commission constituted by the state Government of Rajasthan, in respect of the following specified income arising to that Commission, namely: -
[Notification No. 30/2022/F.No.300196/27/2016-ITA-I (Pt.-1)] SOURABH JAIN, Under Secy.
Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification.
