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The Central Government notifies specified income of the Joint Electricity Regulatory Commission for the State of Goa and Union Territories except Delhi for tax exemption under section 10 clause 46 of the Income-tax Act, 1961. The specified income includes petition fees, license fees, Ombudsman expense reimbursements, asset disposal profit, and related interest earnings. The Commission must not engage in commercial activity. The activities and nature of specified income must remain unchanged throughout the financial years. The Commission files returns of income under section 139 sub-section 4C clause g. The notification applies retrospectively for assessment years 2022-23 and 2023-24.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 1st August, 2023
S.O. 3441(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, Joint Electricity Regulatory Commission (for the State of Goa and Union Territories except Delhi), Gurugram (PAN: AAAJJ0668D), a commission constituted by the Government of India, in respect of the following specified income arising to that Commission, namely:—
[Notification No. 55 /2023 / F.No.300196/6/2021-ITA-I] VIKAS SINGH, Director, ITA-I
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
