Notification No. 34/2019- Central Government notifies ‘Telangana State Electricity Regulatory Commission’, Hyderabad, a commission constituted by the State Government of Telangana, in respect of the specified income arising to that board under section 10(46) of Income Tax Act, 1961.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 34/2019
New Delhi, the 9th April, 2019
S.O. 1538(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, ‘Telangana State Electricity Regulatory Commission’, Hyderabad, a commission constituted by the State Government of Telangana, in respect of the following specified income arising to that Commission, namely:—
(a) Grants and loans received from the government of Telangana;
(b) All fees and sums received by Telangana State Electricity Regulatory Commission, Hyderabad under the Electricity Act, 2003 (36 of 2003); and
(c) Interest earned on (a) & (b) above.
2. This notification shall be effective subject to the conditions that Telangana State Electricity Regulatory Commission, Hyderabad—
(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 apply with respect to the assessment year 2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025.
[Notification No. 34/2019/F.No.300196/8/2019-ITA-I]
RAJARAJESWARI R., Under Secy.
