U/s 10(46) of the Income-tax Act, 1961 Central Government notifies Maharashtra Electricity Regulatory Commission’, a Commission constituted by the State Government of Maharashtra, in respect of the specified income arising to the Commission - 08/2018 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 8/2018 New Delhi, the 16th February, 2018. S.O. 696(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 Maharashtra Electricity Regulatory Commission , a Commission constituted by the State Government of Maharashtra, in respect of the following specified income arising to that Commission, namely:- 1. Fees for Annual Licence; 2. Interest on Fixed Deposit and Savings Account; 3. Fees for Application / Petition filed; 4. Grants from Government of Maharashtra; 5. Fees for Documents; 6. Penalty for delayed payment of Annual Licence Fees; 7. Fees for RTI; 8. Sale of scrap. 2. This notification shall be deemed to have been applied for the period 01.06.2011 to 31.03.2012 and for the financial years 2012-13 to 2014-15. 3. This Notification shall be effective subject to the following conditions, namely:- (a) the Maharashtra Electricity Regulatory Commission does not engage in any commercial activity; (b) the activities and the nature of the specified income of Maharashtra Electricity Regulatory Commission remain unchanged throughout the financial years; and (c) the Maharashtra Electricity Regulatory Commission files returns of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961 . [F.No.196/38/2015-ITA-I)] ROHIT GARG, Director Explanatory Memorandum : It is certified that no person is being adversely affected by giving retrospective effect to this notification.