The Central Board of Direct Taxes (CBDT) has notified the Rajasthan Electricity Regulatory Commission eligible for income tax exemption under section 10(46) of the Income Tax Act, 1961.
As per the notification issued on Monday, “Rajasthan Electricity Regulatory Commission (PAN AAABR0296D), a Commission constituted by the State Government of Rajasthan, in respect of the following specified income arising to that Commission, namely: – (a) Petition filing fees; (b) Licence fees; and (c) Interest earned on the investment.”
Under section 10(46), any specified income arising to any notified body/authority/Board/ Trust/Commission (or a class thereof) which has been established or constituted by or under a Central, State or Provincial Act, or has been constituted by the Government or a State Government with the object of regulating or administering any activity for the benefit of the general public and is not engaged in any commercial activity and is notified by the Central Government in the Official Gazette for the purposes of this clause is exempt from tax.
Comments