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Section 10(46) of the Income-tax Act, 1961 – Exemptions – Statutory body/authority/board/commission – Notified body or authority – Uttar Pradesh Electricity Regulatory Commission
NOTIFICATION NO. 21/2015 [F.NO.196/37/2012-ITA.1]/SO 715(E), DATED 10-3-2015
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 ‘Uttar Pradesh Electricity Regulatory Commission’, a Commission constituted under the Uttar Pradesh Electricity Reforms Act, 1999 (UP Act No.24 of 1999), in respect of the following specified income arising to the said Commission, namely :—
| (a) | amount received in the form of government grants; | |
| (b) | amount received as license fees and fines; | |
| (c) | interest earned on government grants, license fees and fines. |
2. The notification shall be subject to the conditions that the Uttar Pradesh Electricity Regulatory Commission—
| (a) | shall not engage in any commercial activity; | |
| (b) | files return of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the said Act; and | |
| (c) | its activities and the nature of the specified income of the said Commission remains unchanged throughout the financial years, |
3. This notification shall be applicable for financial years 2011-12 to 2015-16.
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