Central government grants tax exemption to state electricity regulatory commission under Section 10(46A) effective AY 2024-25, subject to conditions

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Full Text of the Document

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....Central government notified a state electricity regulatory commission as eligible for tax exemption under section 10(46A) of the Income-tax Act, 1961, effective from assessment year 2024-25, subject to the commission remaining constituted under the Electricity Act, 2003 and retaining one or more purposes specified in clause (46A)(a) of section 10. The notification is issued under the specified statutory power and the accompanying memorandum certifies that no person is adversely affected by giving retrospective effect to the notification.....