Tax exemption for notified regulator: specified income exempt subject to non-commercial activity, unchanged income nature, and prescribed return filing. Notification grants a tax exemption to the Odisha Electricity Regulatory Commission for specified income consisting of government grants, licence fees from licensees, application processing fees, and interest earned on those amounts. The exemption is subject to conditions: no engagement in commercial activity, unchanged nature of activities and specified income across financial years, and filing of return of income as prescribed by the statutory return-filing provision. The notification supersedes an earlier notification and is given retrospective effect for the earlier assessment year and applies to identified subsequent assessment years.
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Tax exemption for notified regulator: specified income exempt subject to non-commercial activity, unchanged income nature, and prescribed return filing.
Notification grants a tax exemption to the Odisha Electricity Regulatory Commission for specified income consisting of government grants, licence fees from licensees, application processing fees, and interest earned on those amounts. The exemption is subject to conditions: no engagement in commercial activity, unchanged nature of activities and specified income across financial years, and filing of return of income as prescribed by the statutory return-filing provision. The notification supersedes an earlier notification and is given retrospective effect for the earlier assessment year and applies to identified subsequent assessment years.
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