Chhattisgarh Electricity Regulatory Commission Gains Tax Exemption for Specified Income u/s 10(46) of Income Tax Act.
The Central Government has notified the 'Chhattisgarh State Electricity Regulatory Commission', Raipur, under section 10(46) of the Income-tax Act, 1961, exempting specified income from taxation. This includes grants from the State Government, annual license fees, petition fees, and penalties under the Electricity Act, 2003. The exemption is contingent on the Commission not engaging in commercial activities, maintaining the nature of income, and filing income returns as per the Act. This notification applies retroactively from the assessment year 2018-19 and will continue through the 2022-23 assessment year.
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