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<h1>Gujarat Electricity Regulatory Commission: Tax Exemption on Specific Income u/s 10(46) of Income-tax Act, 1961.</h1> Under Section 10(46) of the Income-tax Act, 1961, the Central Government has notified the Gujarat Electricity Regulatory Commission, established under the Electricity Regulatory Commissions Act, 1998, regarding specified income exempt from tax. This income includes grants from the government, fees for petitions, licenses, applications, documents, RTI, interest on deposits, and penalties for delayed payments. The exemption is contingent on the Commission not engaging in commercial activities, maintaining the nature of income, and filing income returns as specified. The notification applies retrospectively from the financial year 2016-2017 through to 2020-2021.