Section 10(46) of the Income-tax Act, 1961 – Central Government notifies Bihar Electricity Regulatory Commission, a body constituted by the State Government of Bihar, in respect of the specified income arising to that Commission - 101/2016 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION No. 101/2016 New Delhi, the 27th October, 2016 S.O. 3336(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, Bihar Electricity Regulatory Commission, a body constituted by the State Government of Bihar, in respect of the following specified income arising to that Commission, namely:- (a) amount received in the form of government grants; (b) amount received as licence fee from licensees in electricity; (c) amount received as application processing fee; and (d) interest earned on government grants and fee received. 2. This notification shall be effective subject to the conditions that Bihar Electricity Regulatory Commission,- (a) shall not engage in any commercial activity; (b) activities and the nature of the specified income remain unchanged throughout the financial years; and (c) shall file returns of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the Income-tax Act, 1961 . 3. This notification shall be applicable for the financial years 2016-17 to 2020-21. [F. No. 300196/12/2016-ITA-I] DEEPSHIKHA SHARMA, Director