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SECTION 10(46) OF THE INCOME-TAX ACT, 1961 – EXEMPTIONS – STATUTORY BODY/AUTHORITY/BOARD/COMMISSION – NOTIFIED BODY OR AUTHORITY – PUNJAB STATE ELECTRICITY REGULATORY COMMISSION

NOTIFICATION NO. 36/2015 [F.NO.196/42/2012-ITA.1]/SO 993(E), DATED 10-4-2015

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 ‘Punjab State Electricity Regulatory Commission’, constituted by the Government of Punjab, in respect of the following specified income arising to that Commission, namely:—

(a) amount received in the form of processing fee for determination of tariff;

(b) amount received in the form of licence fee;

(c) amount in the form of petition fee; and

(d) amount of interest income earned on bank deposits.

2. This notification shall be applicable for the financial years 2011-12 to 2015-16.

3. The notification shall be effective subject to the conditions that the Punjab State Electricity Regulatory Commission:—

(a) does not engage in any commercial activity;

(b) its activities and the nature of the specified income remain unchanged throughout the financial years; and

(c) it files return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the said Act.

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