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<h1>Bihar Electricity Regulatory Commission's Income Exempt from Tax u/s 10(46) of Income-tax Act 1961.</h1> The Central Government, under Section 10(46) of the Income-tax Act, 1961, has notified the Bihar Electricity Regulatory Commission, established by the State Government of Bihar, regarding specified income exempt from taxation. This includes income from government grants, license fees from electricity licensees, application processing fees, and interest on government grants and fees. The exemption applies provided the Commission does not engage in commercial activities, maintains the nature of its income, and files income returns as required. This notification is effective for the financial years 2016-17 to 2020-21.