The Central Government, through the Central Board of Direct Taxes, has issued Notification No. 02/2026–Income Tax dated 6 January 2026, notifying the Joint Electricity Regulatory Commission (for the State of Goa and Union Territories except Delhi) as an eligible authority under section 10(46A)(b) of the Income-tax Act, 1961. The notification recognizes the Commission as an authority constituted under the Electricity Act, 2003, thereby qualifying it for income-tax exemption under the specified provision. The exemption is made effective from the assessment year 2024–25, subject to the continuing condition that the Commission remains an authority constituted under the Electricity Act, 2003 and continues to carry out one or more purposes specified in section 10(46A)(a) of the Income-tax Act. The accompanying Explanatory Memorandum clarifies that granting this notification with retrospective effect, from the year of application made before the competent authority, does not adversely affect any person.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 02/2026-Income Tax | Dated: 6th January, 2026
S.O. 88(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 “Joint Electricity Regulatory Commission (for The State of Goa and Union Territories except Delhi) (PAN: AAAJJ0668D), (hereinafter referred to as “the assessee”), an authority 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 2024-25, subject to the condition that the assessee continues to be an authority 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. 02 /2026/F. No. 300195/7/2024-ITA-I]
HARDEV SINGH, Under Secy.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect (with effect from the year of application made before the Board/Department) to this notification.
