**Policy Summary:**
This notification, S.O. 2829(E), issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes on August 30, 2017, grants an exemption under clause 46 of section 10 of the Income-tax Act, 1961 to the Gujarat Electricity Regulatory Commission (GERC). The exemption applies to the following specified income of GERC: grants and aid from the government; petition or processing fees for tariff determination; license and application fees, and fines; interest earned on investments, deposits, or bank accounts; fees for documents; penalties or interest for delayed license fee payments; and fees for Right to Information (RTI) requests.
The exemption is conditional upon GERC not engaging in any commercial activity, maintaining the unchanged nature of its activities and specified income, and filing income tax returns as per section 139(4C)(g) of the Income-tax Act, 1961.
This notification is deemed effective for the financial year 2016-2017 and applies to the financial years 2017-2018, 2018-2019, 2019-2020, and 2020-2021. The notification number is 84/2017 (F. No. 300196/8/2017-ITAI). The Director, Deepshikha Sharma, issued the notification.
Key Entities Referenced
Income-tax Act, 1961: A law of India concerning income tax, referenced as the basis for the notification.
Central Board of Direct Taxes: A department under the Ministry of Finance, responsible for issuing the notification.
Ministry of Finance: The government ministry responsible for revenue and direct taxes.
Gujarat Electricity Regulatory Commission: The commission constituted under the Electricity Regulatory Commissions Act, 1998, which is the subject of the notification regarding income tax exemptions.
Electricity Regulatory Commissions Act, 1998: The law under which the Gujarat Electricity Regulatory Commission was constituted.
New Delhi: The location where the notification was issued.
Deepshikha Sharma: The Director who signed the notification.
Section 139: Section of the Income-tax Act, 1961 related to return of income.
REGD. NO. D. L.-33004/99
EXTRAORDINARY
II— — (ii)
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
2481]
No. 2481] NEW DELHI, WEDNESDAY, AUGUST 30, 2017/BHADRA 8, 1939
वित्त मत्रं ालय
(राजस्ि विभाग)
(केंद्रीय प्रत्यक्ष कर बोर्ड)
अविसचू ना
नई दिल्ली, 30 अगस् त, 2017
का. आ. 2829(अ).—केंद्र सरकार, आयकर अविवनयम, 1961 (1961 का 43) की िारा 10 के खंर् (46) द्वारा
प्रित्त शवियों का प्रयोग करते हुए, उि खर्ं के प्रयोजनों के वलए “गजु रात विद्युत विवनयामक आयोग” एक आयोग वजसका
गठन विद्युत विवनयामक आयोग अविवनयम, 1998 के अिीन हुआ ह,ै को, होने िाली वनम्न विवशष्ट आय के संबंि में एतिद्व् ारा
अविसूवचत करती ह,ै यथा:-
a) सरकार से प्राप्त अनिु ान और सहायता की रकम;
b) िर-वनिाडरण में प्राप्त यावचका शुल्क एि ंप्रदरियया ीीस के ूप में प्राप्त िनरावश;
c) लाइसेंस शुल्क एिं आिेिन शुल्क अथिा जुमाडन े के ूप में प्राप्त िनरावश;
d) िस्तािेजों का शल्ु क;
e) िार्षडक लाइसेंस शुल्क के भगु तान की िरे ी के वलए प्राप्त शावस्त अथिा ब्याज; और
f) आर.टी.आई. का शल्ु क।
2. यह अविसूचना इस शत ड र लागू होगी दक गुजरात विद्युत विवनयामक आयोग:—
(क) दकसी िावणवययक गवतविवि म ेंशावमल नहीं होगा;
(ख) वित्तीय िषड में यह विवनर्िष्टड आय की प्रकृवत ि गवतविवि अ ररितडनीय रहगे ी; और
(ग) यह उ यिुड अविवनयम की िारा 139 की उ िारा (4ग) के खंर् (च) के प्राििानों के अनुसार आयकर वििरणी
िावखल करेगा।
5393 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
3. यह अविसूचना वित्तीय िषड 2016-17 के वलए लाग ू समझी जाएगी एिं यह वित्त िषड 2017-2018, 2018-2019,
2019-20 एिं 2020-21 के सबं ंि में लाग ूहोगी।
[अविसूचना सं. 84/2017/ीा.सं.300196/8/2017-आईटीए-I]
िी वशखा शमाड, वनिेशक
व्याख्यात्मक ज्ञा न.—यह प्रमावणत दकया जाता ह ै दक इस अविसूचना को भूतलक्षी प्रभाि से लागू करने से दकसी व्यवि र
प्रवतकूल प्रभाि नहीं डेगा।
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 30th August, 2017
S. O. 2829(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax
Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Gujarat
Electricity Regulatory Commission’, a Commission constituted under the Electricity Regulatory Commissions
Act, 1998 , in respect of the following specified income arising to that Commission, namely:-
(a) amounts received in form of grants and aid from Government;
(b) amount received in the form of petition fees or processing fee for determination of tariff;
(c) amount received in the form of License fees; Application fees or in nature of fines;
(d) interest earned on investment or deposit or Saving/Current Bank Accounts;
(e) fees for documents;
(f) penalty or interest for delayed payment of Annual License fees; and
(g) fees for RTI.
2. This notification shall be effective subject to the conditions that Gujarat Electricity Regulatory
Commission:—
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income shall remain unchanged throughout the
financial years; and
(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C)
of section 139 of the said Act.
3. This notification shall be deemed to have been applied for the financial year 2016-2017 and shall
apply with respect to financial years 2017-2018, 2018-2019, 2019-2020 and 2020-2021.
[Notification No. 84 /2017/F. No. 300196/8/2017-ITA-I]
DEEPSHIKHA SHARMA, Director
Explanatory Memorandum.—It is certified that no person is being adversely affected by giving
retrospective effect to this notification.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.