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The Central Government notifies specified income of the Kerala State Electricity Regulatory Commission under section 10 of the Income-tax Act, 1961. The specified income includes grants and loans from the State Government, license fees, petition fees, and interest earned from investment. The commission must not engage in any commercial activity. The commission must keep activities and the nature of the specified income unchanged throughout the financial years. The commission must file a return of income under section 139 of the Income-tax Act, 1961. The notification applies to assessment years 2018-19 through 2022-23.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 8th October, 2018
S.O. 5177(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, ‘Kerala State Electricity Regulatory Commission’, Thiruvananthapuram, a commission established by the Government of Kerala, in respect of the following specified income arising to that commission, namely:—
[Notification No. 63/2018, F. No. 300196/36/2018-ITA-I] VINAY SHEEL GAUTAM, Under Secy.
Explanatory Memorandum:—It is certified that no person is being adversely affected by giving retrospective effect to this notification.
