U/s 10(46) of IT Act 1961 - Central Government notifies ‘Punjab State Electricity Regulatory Commission’ in respect of the specified income arising to that Commission - 121/2021 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 121/2021 New Delhi, the 13th October, 2021 S.O. 4263(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, Punjab State Electricity Regulatory Commission , Chandigarh (PAN- AAAGT0052L), a commission established by the state government of Punjab, in respect of the following specified income arising to the Commission, namely:- (a) amount received in the form of processing fee for the determination of tariff; (b) amount received in the form of licence fee; (c) amount received in the form of petition fee; and (d) amount of interest income earned on bank deposits. 2. This notification shall be effective subject to the conditions that Punjab State Electricity Regulatory Commission, Chandigarh,- (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 apply with respect to the financial years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and 2025-2026. [F.No.300196/5/2021-ITA-I] SOURABH JAIN, Under Secy.