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

NOTIFICATION NO. SO 2384(E) [NO.76/2017 (F.NO.300196/4/2017-ITA-I)], DATED 28-7-2017

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, 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.

2. 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.

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