CBDT notifies “Odisha Electricity Regulatory Commission” of exemption under Section 10 (46)
The Central Commission of Direct Taxes (CBDT) See Opinion No. 85/2022 date July 21, 2022 Notify “Odisha Electricity Regulatory Commission” for exemption under Section 10 (46).
The notification is given below:
SO 3315(E).—In exercising the powers conferred by clause (46) of section 10 of the Income Tax Act 1961 (43 of 1961), the central government hereby gives notice, for the purposes of the said clause, the Odisha Electricity Regulatory Commission (PAN: AAALO0073B), a body constituted by the Government of the State of Odisha, in respect of the following specified revenues from such commission, namely:-
a) Amount received as royalties from licensees;
(b) Amount received as application processing fee; and
(c) Interest earned on government grants and on (a) and (b) above.
2. The provisions of this Notice shall come into force subject to such conditions as the Odisha Electricity Regulatory Commission, –
(a) will not engage in any commercial activity;
(b) the activities and the nature of the income specified remain unchanged throughout the financial years; and
(c) must file returns of income in accordance with the provision of clause (g) of subsection (4C) of section 139 of the Income Tax Act 1961.
3. This notification is deemed applied for the financial year 2021-2022 and applies to the financial years 2022-2023, 2023-2024, 2024-2025 and 2025-2026.
For the official notification, download the PDF below: