NOTIFICATION No. 49/2013
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, the Himachal Pradesh Electricity Regulatory Commission, a Commission established by the Central Government of Himachal Pradesh, in respect of the following specified income arising to that Commission, namely:-
(a) amount received in the form of Government grants;
(b) amount received as licence fee from licensees in electricity;Online GST Certification Course by TaxGuru & MSME- Click here to Join
(c) amount received as Court fee or petition fee; and
(d) interest earned on Government grants and fee received.
2. This notification shall be deemed to have been applied for the financial year 2012-13 and shall applicable for the financial years 2013-14, 2014-15, 2015-16 and 2016-17.
3. The notification shall be effective subject to the following conditions, namely :-
(a) the Himachal Pradesh Electricity Regulatory Commission does not engage in any commercial activity;
(b) the activities and the nature of the specified income of Himachal Pradesh Electricity Regulatory Commission remain unchanged throughout the financial year; and
(c) the Himachal Pradesh Electricity Regulatory Commission files return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.
[ F. NO. 196/50/2012-ITA.1 ]