NOTIFICATION NO. SO 2829(E) [NO.84/2017 (F.NO.300196/8/2017-ITA-I)], DATED 30-8-2017

SECTION 10(46) OF THE INCOME-TAX ACT, 1961 – EXEMPTIONS – STATUTORY BODY/AUTHORITY/BOARD/COMMISSION – NOTIFIED BODY OR AUTHORITY

NOTIFICATION NO. SO 2829(E) [NO.84/2017 (F.NO.300196/8/2017-ITA-I)]DATED 30-8-2017

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:—

(a) amounts received in form of grants and aid from Government;
(b) amount received in the form of petition fees or processing fee for determination of tariff;
(c) amount received in the form of License fees; Application fees or in nature of fines;
(d) interest earned on investment or deposit or Saving/Current Bank Accounts;
(e) fees for documents;
(f) penalty or interest for delayed payment of Annual License fees; and
(g) fees for RTI.

2. This notification shall be effective subject to the conditions that Gujarat 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.

3. This notification shall be deemed to have been applied for the financial year 2016-2017* and shall apply with respect to financial years 2017-2018, 2018-2019, 2019-2020 and 2020-2021.