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<h1>Bihar Electricity Regulatory Commission's specified income exempt from taxes u/s 10(46) of Income-tax Act, 1961.</h1> The Central Government has notified the Bihar Electricity Regulatory Commission under Section 10(46) of the Income-tax Act, 1961. This notification exempts specified income of the Commission, including license fees, application processing fees, and interest on government grants, from taxation. The exemption is contingent upon the Commission not engaging in commercial activities, maintaining the nature of specified income, and filing income returns as per legal requirements. This notification is retroactively applicable from the financial year 2021-2022 and continues through the financial years 2022-2023 to 2025-2026. The notification ensures no adverse effects on any individual.