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The Central Government notifies specified income of the Gujarat Electricity Regulatory Commission for income tax exemption under clause (46) of section 10 of the Income-tax Act, 1961. The exemption applies to grants, petition fees, license fees, interest, document fees, penalties, and RTI fees. The Commission must not engage in any commercial activity, must keep its activities and income nature unchanged, and must file a return of income under section 139. The notification applies retrospectively to the financial year 2016-2017 and prospectively for the financial years 2017-2018 through 2020-2021.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 30th August, 2017
S. O. 2829(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, ‘Gujarat Electricity Regulatory Commission’, a Commission constituted under the Electricity Regulatory Commissions Act, 1998 , in respect of the following specified income arising to that Commission, namely:-
[Notification No. 84 /2017/F. No. 300196/8/2017-ITA-I] DEEPSHIKHA SHARMA, Director
Explanatory Memorandum.—It is certified that no person is being adversely affected by giving retrospective effect to this notification.
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. ALOK KUMAR Digitally signed by ALOK KUMAR Date: 2017.09.01 12:21:38 +05'30'
