CBDTNotificationNotification No. 76 /2017 / F. No. 300196/4/2017-ITA-I28 Jul 2017

Income Tax Exemption for Himachal Pradesh Electricity Regulatory Commission

Who: Himachal Pradesh Electricity Regulatory Commission
Action: File return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the said Act.

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What changed

The Central Government notifies the Himachal Pradesh Electricity Regulatory Commission under clause (46) of section 10 of the Income-tax Act, 1961 for specified income. The specified income includes Government grants, license fees from electricity licensees, Court fees or petition fees, and interest earned on grants and fees. The Commission must not engage in any commercial activity. The activities and 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. This notification applies to the financial years 2017-2018, 2018-2019, 2019-2020, 2020-2021, and 2021-2022.

What you must do

File return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the said Act.

Key dates

Financial years 2017-2018 to 2021-2022: Not dated

Who is affected

Himachal Pradesh Electricity Regulatory Commission

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Written automatically from the official document. It is not a professional review, so check material decisions against the official record.

Document text

Prepared for reading; wording retained from the source.

Official source

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION

New Delhi, the 28th July, 2017

S.O. 2384(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 Himachal Pradesh Electricity Regulatory Commission, a commission established by the Government of Himachal Pradesh, in respect of the following specified income arising to that Commission, namely:—

(a) amount received in the form of Government grants;
(b) amount received as license fee from licensees in electricity;
(c) amount received as Court fee or petition fee; and
(d) interest earned on Government grants and fee received.

This notification shall be effective subject to the conditions that Himachal Pradesh Electricity Regulatory Commission,—

(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and
(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the said Act.

This notification shall apply with respect to the financial years 2017-2018, 2018-2019, 2019-2020, 2020-2021 and 2021-2022.

[Notification No. 76 /2017/ F. No. 300196/4/2017-ITA-I] DEEPSHIKHA SHARMA, Director

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.

RAKESH SUKUL Digitally signed by RAKESH SUKUL Date: 2017.07.29 17:24:54 +05'30'

Source details

Official title: notification no. 76 /2017 f. no. 300196/4/2017 ita i / so 2384 e
Source: Central Board of Direct Taxes / Income Tax Department
Type: notification
Published by source: 28 Jul 2017
Document number: Notification No. 76 /2017 / F. No. 300196/4/2017-ITA-I
Issuing division: Central Board of Direct Taxes
Coverage area: direct-tax

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Income Tax Exemption for Himachal Pradesh Electricity Regulatory Commission

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