Tax exemption for Odisha Electricity Regulatory Commission: specified income exempt subject to activity, income nature and return filing conditions. Notification under clause (46) of section 10 of the Income tax Act notifies that the Odisha Electricity Regulatory Commission's specified income-Government grants, licence fees from electricity licensees, application processing fees, and interest on such grants and fees-is exempt for financial years 2012 13 through 2016 17, subject to conditions that the Commission does not engage in commercial activity, that its activities and the nature of the specified income remain unchanged during the year, and that it files returns in accordance with clause (g) of sub section (4C) of section 139.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption for Odisha Electricity Regulatory Commission: specified income exempt subject to activity, income nature and return filing conditions.
Notification under clause (46) of section 10 of the Income tax Act notifies that the Odisha Electricity Regulatory Commission's specified income-Government grants, licence fees from electricity licensees, application processing fees, and interest on such grants and fees-is exempt for financial years 2012 13 through 2016 17, subject to conditions that the Commission does not engage in commercial activity, that its activities and the nature of the specified income remain unchanged during the year, and that it files returns in accordance with clause (g) of sub section (4C) of section 139.
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