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of <h1>Madhya Pradesh Electricity Regulatory Commission Receives Tax Exemption on Specified Income Retrospectively u/s 10(46) of IT Act.</h1> The Central Government, under Section 10(46) of the Income-tax Act, 1961, has notified the Madhya Pradesh Electricity Regulatory Commission regarding specified income that will be exempt from tax. This includes income from petition fees, interest on savings, fines, charges, and other incidental sources such as grants and fees. The exemption applies provided the Commission does not engage in commercial activities, maintains the nature of its specified income, and files income returns as required. The notification applies retrospectively to the financial years 2014-2015 through 2018-2019, with assurance that no party is adversely affected by this retrospective application.
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