Vide Notification No. 12/2022 – Income Tax | Dated: 27th January, 2022 CBDT notifies Tax Exemption to ‘West Bengal Electricity Regulatory Commission’, Kolkata, a Commission constituted by the State Government of West Bengal, in respect of the specified income under section 10(46) of Income Tax Act, 1961.
CBDT corrects its mistake in Notification Numbering
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi
Notification No. 12/2022 | Dated: 27th January, 2022
S.O. 357(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, ‘West Bengal Electricity Regulatory Commission’, Kolkata (PAN: AAAGW0011J), a Commission constituted by the State Government of West Bengal, in respect of the following specified income arising to that Commission, namely:-
(a) Income from the fund maintained in accordance with the provisions of the West Bengal Electricity Regulatory Commission (Manner of application of Fund) Rules, 2006; and
(b) Income from the fees collected in accordance with the provisions of the West Bengal Electricity (fees for application for grant of license) Rules, 2005, notified by the Government of West Bengal.
2. This notification shall be effective subject to the conditions that West Bengal Electricity Regulatory Commission, Kolkata –
(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 Income-tax Act, 1961.
3. This notification shall be applicable for the financial years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and 2025-2026.
[Notification No. 11/2022/F. No. 300196/1/2022-ITA-I]
SOURABH JAIN, Under Secy.
