MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION No. 78/2014

Dated- 12th December, 2014

S.O. 3172(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, “Karnataka Electricity Regulatory Commission, a Commission constituted by the Government of Karnataka in respect of the following specified income arising to that Commission, namely:-

(a)      amount received in the form of grants and loans from the Government of Karnataka;

(b)      statutory fees;

(c) interest earned from investment

2.      This notification shall be applicable for the financial years 2014-2015 to 2018-2019.

3.      The notification shall be subject to the conditions that Karnataka Electricity Regulatory Commission:-

(a)      shall not engage in any commercial activity;

(b)      its activities and the nature of the specified income remain unchanged throughout the financial year; and

(c) it files return of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the said Act.

[ F.No. 196/22/2014-ITA.I]

 (Deepshikha Sharma) Director to the Govt. of India

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Category : Income Tax (25333)
Type : Notifications (15369) Notifications/Circulars (30576)

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