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CBDT Notifies Haryana Electricity Regulatory Commission for tax Exemption u/s 10(46)

cbdt-notifies-haryana-electricity-regulatory-commission-for-tax-exemption-us-10-46

CBDT vide Notification No. 108/2022 dated 05.09.2022 in S.O. 4155(E) notified ‘Haryana Electricity Regulatory Commission’, having PAN AAAGH0072G, a Commission constituted under the Haryana Electricity Reform Act, 1997 for income-tax exemption under section 10(46) of the Income-tax Act, 1961.


As per the notification, the following incomes of the regulatory commission shall be exempt from income tax:

(a) Fees received under the Electricity Act, 2003; and

(b) Interest earned on government grants and above.



The above-mentioned income shall be exempt from income tax if the commission shall not engage in any commercial activity and that activities and the nature of the specified income shall remain unchanged throughout the financial years.


In order to claim exemption, the commission is required to furnish a return of income in accordance with the provision of section 139(4C)(g).


The exemption shall be available from FY 2022-23 to FY 2026-27.


Read the full text of Notification No. 108/2022 dated 05.09.2022 on income-tax exemption to Haryana Electricity Regulatory Commission


MINISTRY OF FINANCE 

(Department of Revenue) 


(CENTRAL BOARD OF DIRECT TAXES) 


NOTIFICATION 


New Delhi, the 5th September, 2022


S.O. 4155(E).—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, ‘Haryana Electricity Regulatory Commission’ (PAN AAAGH0072G), a Commission constituted under the Haryana Electricity Reform Act, 1997 (Haryana Act No.10 of 1998), in respect of the following specified income arising to that Commission, namely:  


(a) Fees received under the Electricity Act, 2003 (36 of 2003) and 

(b) Interest earned on government grants and loans and fees received under the Electricity Act, 2003 (36 of 2003). 


2. This notification shall be effective subject to the conditions that Haryana Electricity Regulatory Commission,-


(a) shall not engage in any commercial activity;


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


(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961. 



3. This notification shall be applicable with respect to the financial years 2022-2023, 2023-2024, 2024-2025, 2025-2026 and 2026-2027.


[Notification No. 108/2022/F. No. 300196/25/2022-ITA-I] 

SOURABH JAIN, Under Secy. 


Download CBDT Notification No. 108/2022 dated 05.09.2022 on income-tax exemption to Haryana Electricity Regulatory Commission in PDF format

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