The Ministry of Finance, Department of Revenue, through Notification No. 60/2025 – Income Tax, dated June 16, 2025, has granted income tax exemption to the Karnataka Electricity Regulatory Commission (KERC), Bengaluru (PAN: AAAGK0112L). This exemption is provided under sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961. KERC is a commission established under ‘The Electricity Act, 2003’. The notification specifies that this exemption will be effective starting from the assessment year 2025-26. The continued applicability of this exemption is contingent upon KERC maintaining its status as a commission constituted under ‘The Electricity Act, 2003’, and continuing to fulfill one or more of the purposes outlined in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act. This measure aligns with the government’s policy for such regulatory bodies.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 60/2025 – Income Tax | Dated: 16th June, 2025
S.O. 2690(E).—In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961 (43 of 1961), (hereinafter referred to as “the Income-tax Act”), the Central Government hereby notifies the „Karnataka Electricity Regulatory Commission‟, Bengaluru (PAN: AAAGK0112L) (hereinafter referred to as “the assessee”), a commission constituted under “The Electricity Act, 2003” (No. 36 of 2003), for the purposes of the said clause.
2. This notification shall be effective from the assessment year 2025-26, subject to the condition that the assessee continues to be a commission constituted under „The Electricity Act, 2003‟ (No.36 of 2003) with one or more of the purposes specified in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act.
[Notification No. 60/2025/F.No.300195/17/2025-ITA-I]
MEENAKSHI SINGH, Dy. Secy.
