Section 10(46) of the Income-tax Act, 1961 – Central Government notifies “'Punjab State Electricity Regulatory Commission” a Commission constituted by the Government of Punjab, in respect of the certain specified income arising to the said Commission. - 36/2015 - Income Tax

Punjab State Electricity Regulatory Commission's Income Tax Exemption for FY 2011-16 Under Section 10(46) of Income-tax Act

The Central Government, under Section 10(46) of the Income-tax Act, 1961, has notified the Punjab State Electricity Regulatory Commission, established by the Government of Punjab, regarding specific income types exempt from taxation. These include processing fees for tariff determination, license fees, petition fees, and interest income from bank deposits. This notification applies to financial years 2011-12 to 2015-16, provided the Commission does not engage in commercial activities, maintains the nature of its specified income, and files income returns as per legal requirements.