Central Government hereby notifies for exemption U/s. 10(46), ‘Kerala State Electricity Regulatory Commission’, Thiruvananthapuram, a commission established by the Government of Kerala, vide Notification No. 64/2018 Dated : 8th October, 2018.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION No. 63/2018
New Delhi, the 8th October, 2018
S.O. 5177(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, ‘Kerala State Electricity Regulatory Commission’, Thiruvananthapuram, a commission established by the Government of Kerala, in respect of the following specified income arising to that commission, namely:—
(a) Grants and loans received from State Government of Kerala;
(b) License fee under Electricity Act, 2003;
(c) Petition fees under Electricity Act, 2003;
(d) Interest earned from investment.
2. This notification shall be effective subject to the conditions that Kerala State 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 Income-tax Act, 1961.
3. This notification shall be deemed to have been applied for the assessment year 2018-19 and shall apply with respect to the assessment years 2019-20, 2020-21, 2021-22 and 2022-23.
[Notification No. 63/2018, F. No. 300196/36/2018-ITA-I]
VINAY SHEEL GAUTAM, Under Secy.
Explanatory Memorandum:—It is certified that no person is being adversely affected by giving retrospective effect to this notification.