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of <h1>Odisha Electricity Regulatory Commission's Specified Income Exempted from Tax u/s 10(46); Applies Retroactively and Prospectively.</h1> The Central Government has notified the Odisha Electricity Regulatory Commission, constituted by the State Government of Odisha, under clause (46) of section 10 of the Income-tax Act, 1961. The specified income exempted includes license fees, application processing fees, and interest earned on government grants and these fees. The Commission must not engage in commercial activities, maintain the nature of specified income, and file income returns as per section 139(4C)(g) of the Act. This notification applies retrospectively for the financial year 2021-2022 and prospectively for 2022-2023 to 2025-2026. No individual is adversely affected by this retrospective application.
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