This notification, S.O. 2163(E), issued by the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, on June 27, 2019, grants an exemption under clause 46 of section 10 of the Income-tax Act, 1961 to the Karnataka Electricity Regulatory Commission (KERC), Bengaluru (PAN: AAAGK0112L). The exemption applies to the following specified income of KERC: grants from the Government of Karnataka, annual fees, tariff application fees, power purchase agreement processing fees, fines and penalties, miscellaneous receipts (e.g., copying charges, sale of retail tariff orders, RTI application fees), and interest earned on the aforementioned income sources.
The exemption is subject to the conditions that KERC: (a) does not engage in any commercial activity; (b) maintains consistent activities and income nature throughout the financial years; and (c) files income tax returns as per clause (g) of subsection (4C) of section 139 of the Income-tax Act, 1961.
This notification is applicable for the assessment years 2020-2021, 2021-2022, 2022-2023, 2023-2024, and 2024-2025. The notification number is 49/2019, and the file number is F.No.300196/33/2019-ITAI. The issuing authority is Rajarajeswari R., Under Secretary.
Key Entities Referenced
Income-tax Act, 1961: A law referenced in the notification, specifically section 10 and section 139.
Central Board of Direct Taxes: The issuing authority for the notification, under the Department of Revenue, Ministry of Finance.
Karnataka Electricity Regulatory Commission, Bengaluru: An organization established by the Government of Karnataka, PAN AAAGK0112L, the subject of the notification regarding income tax exemption.
Government of Karnataka: The state government that established the Karnataka Electricity Regulatory Commission and provides grants.
Ministry of Finance: The ministry under which the Department of Revenue and Central Board of Direct Taxes operate.
Department of Revenue: A department under the Ministry of Finance.
New Delhi: The location of the notification's issuance.
2020-2021: The assessment year to which the notification applies.
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EXTRAORDINARY
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PART II—Section 3—Sub-section (ii)
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No. 1949] NEW DELHI, THURSDAY, JUNE 27, 2019/ ASHADHA 6, 1941
ििििवववव(cid:3)(cid:3)(cid:3)(cid:3) मममम(cid:7)(cid:7)ंं(cid:7)(cid:7)ंं ााााललललयययय
((((ररररााााजजजज(cid:13)(cid:13)(cid:13)(cid:13)वववव ििििववववभभभभाााागगगग))))
((((कककक(cid:18)(cid:18)(cid:18)(cid:18)(cid:19)(cid:19)(cid:19)(cid:19)ीीीीयययय (cid:21)(cid:21)(cid:21)(cid:21)(cid:22)(cid:22)(cid:22)(cid:22)यययय(cid:23)(cid:23)(cid:23)(cid:23) ककककरररर बबबबोोोोडडडड))(cid:27)(cid:27)))(cid:27)(cid:27)
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6)ली, 27 जून, 2019
ककककाााा....आआआआ.... 2222111166663333 ((((अअअअ))))....————आयकर अिधिनयम, 1961 (1961 का 43) क(cid:11) धारा 10 के खडं (46) (cid:15)ारा (cid:16)द(cid:17) शि(cid:20)य(cid:22) का
(cid:16)योग करत े (cid:27)ए, क(cid:29)(cid:30) सरकार एतद(cid:15)ारा उ(cid:20) खंड के (cid:16)योजनाथ, कना&टक सरकार (cid:15)ारा (थ ािपत एक आयोग, ‘कना&टक वै+ुत
िनयामक आयोग (कना&टक इलिै ./िसटी रेगुलेटरी कमीशन), बंगलु2 (पैन एएएजीके0112एल) को उस आयोग को होन े वाली
िविन3द4ट आय के संबधं म(cid:29) अिधसिू चत करती ह,ै नामत::-
(क) कना&टक सरकार (cid:15)ारा (cid:16)दान (cid:4)कया गया अनुदान;
(ख) वा:षक शु(cid:6)क ;
(ग) (cid:16)शु(cid:6)क (टै=रफ) आवेदन श(cid:6)ु क ;
(घ) पावर परचेज ए@ीम(cid:29)ट (cid:16)ोसAे सग शु(cid:6)क ;
(ड़) दBड तथा शाि(त(य(cid:4)द लगाया जाए);
(च) िविवध (cid:16)ािCया ं जैस े (cid:4)क िविभEन (cid:16)पF(cid:22) क(cid:11) (cid:16)ितय(cid:22) के श(cid:6)ु क, =रटेल टै=रफ आदशे (cid:22) का िवGय िनयामक(cid:22) का
िवGय, आरटीआई आवेदन शु(cid:6)क इHय ा(cid:4)द; तथा
(छ) उपरो(cid:20) (क) स े(च) तक पर अ:जत Iयाज।
3151 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
2. यह अिधसूचना इन शतK के अLयधीन (cid:16)भावी होगी (cid:4)क कना&टक िव+ुत िनयामक आयोग’-
(क) (cid:4)कसी भी Mावसाियक गितिविध म(cid:29) शािमल नहN होगा;
(ख) काय&कलाप और िविन3दP आय क(cid:11) (cid:16)कृित, िव(cid:17)ीय वषK के दौरान अप=रव:तत रहगे ी; और
(ग) आयकर अिधिनयम,1961 क(cid:11) धारा 139 क(cid:11) उपधारा–4(ग) के खंड (छ) के (cid:16)ावधान के अनसु ार आय क(cid:11) िववरणी
दायर करेगा।
3. यह अिधसूचना िनधार& ण वष& 2020-21, 2021-22, 2022-23, 2023-24 तथा 2024-25 के िलए लागू होगी।
[अिधसूचना स.ं49/2019, फा. स.ं300196/33/2019-आईटीए-I]
राजाराजेU वरी आर., अवर सिचव
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 27th June, 2019
S.O.2163(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, ‘Karnataka Electricity Regulatory
Commission’, Bengaluru (PAN AAAGK0112L), a commission established by the Government of Karnataka, in respect
of the following specified income arising to that Commission, namely:-
(a) Grant by Government of Karnataka;
(b) Annual Fees;
(c) Tariff Application Fees;
(d) Power Purchase Agreement processing fees;
(e) Fines and Penalties (if levied);
(f) Miscellaneous receipts like copying charges of various documents sale of retail tariff orders sale of regulations,
RTI application fees etc.; and
(g) Interest earned on (a) to (f) above.
2. This notification shall be effective subject to the conditions that Karnataka Electricity Regulatory Commission,
Bengaluru -
(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 Income-tax Act, 1961.
3. This notification shall apply with respect to the assessment year 2020-2021, 2021-2022, 2022-2023, 2023-2024
and 2024-2025.
[Notification No.49/2019, F.No.300196/33/2019-ITA-I]
RAJARAJESWARI R., Under Secy.
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.