Section 10(46) of the Income-tax Act, 1961 – Central Government notifies “Andhra Pradesh Electricity Regulatory Commission” for dealing with specified income - 22/2016 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 22/2016 New Delhi, the 29th March, 2016 S.O. 1250(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, the Andhra Pradesh Electricity Regulatory Commission, a Commission constituted under the Andhra Pradesh Electricity Reform Act, 1998 (Government of Andhra Pradesh Act No. 30 of 1998), in respect of the following specified income arising to that Commission, namely:- (a) Licence fee received under the Electricity Act, 2003; (b) Grants-in-Aid received from Government; (c) Interest earned on investment or deposit in nationalised bank or financial institutions. 2. This notification shall be subject to the conditions that the Andhra Pradesh Electricity Regulatory Commission:- (a) shall not engage in any commercial activity; (b) its activities and the nature of the specified income 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 deemed to have been applicable for the financial year 2014-2015 and shall apply with respect to the financial years 2015-2016, 2016-2017, 2017-2018 and 2018-2019. [F.No.196/28/2014-ITA-I] DEEPSHIKHA SHARMA, Director