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of <h1>Joint Electricity Regulatory Commission's specified income gets tax exemption u/s 10(46A) from assessment year 2024-25 onward</h1> 'Joint Electricity Regulatory Commission (for the State of Goa and Union Territories except Delhi)', constituted under the Electricity Act, 2003, is notified as an eligible authority for the purposes of section 10(46A) of the Income-tax Act, 1961, thereby bringing its specified income within the exemption framework under that provision. The notification applies from assessment year 2024-25 and continues to operate only so long as the authority remains constituted under the Electricity Act, 2003 and continues to have one or more purposes specified in section 10(46A)(a). Consequently, the specified income of the notified authority is exempt from income-tax under section 10(46A) for the applicable assessment years, subject to ongoing satisfaction of the stated condition.
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