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of <h1>Government Amends Notification on Maharashtra Electricity Regulatory Commission, Updates Tax-Exempt Income u/s 10(46) of Income-tax Act.</h1> The Central Government has amended Notification No. 34/2020 concerning the Maharashtra Electricity Regulatory Commission, effective from June 23, 2020. The amendments include new clauses specifying types of income exempted from taxation under Section 10(46) of the Income-tax Act, 1961. These include profits from the sale of fixed assets, charges for personal use of office vehicles by employees, interest on income tax refunds, and interest earned on government securities. The amendment was issued by the Ministry of Finance's Department of Revenue and is certified to have no adverse effects on any individuals.
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