Executive Summary:
This notification, issued by the Central Board of Direct Taxes, grants an exemption under Section 10(46) of the Income-tax Act, 1961 to the Madhya Pradesh Electricity Regulatory Commission concerning specified income. The exemption applies retrospectively to financial years 2014-2015 through 2018-2019. The notification is effective from March 31, 2017.
Key Points / Main Content:
* **Exemption Notification:**
* The Central Government notifies the Madhya Pradesh Electricity Regulatory Commission for exemption under Section 10(46) of the Income-tax Act, 1961.
* **Specified Income:**
* The exemption applies to the following income types:
* Petition fees
* Interest on savings
* Fines and charges
* Incidental income: Grants, sale of tender documents, processing fees, certified copying fees, sale of old newspapers, license fees, vehicle rent, interest on loans to staff, and Right to Information receipts, receipts from Distribution of Tariff Book.
* **Conditions for Exemption:**
* The Madhya Pradesh Electricity Regulatory Commission:
* Must not engage in any commercial activity.
* Activities and the nature of the specified income must remain unchanged throughout the financial years.
* Must file income returns in accordance with Section 139(4C)(g) of the Income-tax Act, 1961.
* **Effective Period:**
* The notification applies retrospectively to the financial years 2014-2015, 2015-2016, 2016-2017, 2017-2018 and 2018-2019.
Impact Analysis:
Madhya Pradesh Electricity Regulatory Commission:
* Impact: Eligible for income tax exemption on specified income, provided the conditions are met.
* Action Required: Ensure compliance with the conditions, including refraining from commercial activities, maintaining consistency in income nature, and filing income returns as per Section 139(4C)(g) of the Income-tax Act, 1961.
Central Board of Direct Taxes:
* Impact: Responsible for administering and ensuring compliance with the notification.
* Action Required: Implement and monitor the notification's provisions.
Key Entities Referenced
Income-tax Act, 1961: A law that empowers the Central Government to notify specific entities and their income for tax exemption.
Central Government: The executive authority responsible for issuing the notification under the Income-tax Act, 1961.
Madhya Pradesh Electricity Regulatory Commission: A commission constituted by the State Government of Madhya Pradesh, which is the subject of the notification, granting it certain income tax exemptions.
State Government of Madhya Pradesh: The state government that established the Madhya Pradesh Electricity Regulatory Commission.
Ministry of Finance: The ministry under which the Department of Revenue and Central Board of Direct Taxes operate; responsible for the notification.
Department of Revenue: The department within the Ministry of Finance that likely handled the notification process.
Central Board of Direct Taxes: The issuing authority for the notification related to income tax exemptions.
New Delhi: The location where the notification was issued.
jftLVªh laö Mhö ,yö&33004@99
REGD. NO. D. L.-33004/99
vlk/kj.k
EXTRAORDINARY
Hkkx II—[k.M 3—mi&[k.M (ii)
PART II—Section 3—Sub-section (ii)
izkf/dkj ls izdkf'kr
PUBLISHED BY AUTHORITY
la- 911] ubZ fnYyh] 'kqØokj] ekpZ 31] 2017@pS=k 10] 1939
No. 911] NEW DELHI, FRIDAY, MARCH 31, 2017/CHAITRA 10, 1939
िवत् त मं(cid:7074)ालय
(राजस्व िवभाग)
(क(cid:7286)(cid:7076)ीय (cid:7079)त् यक्ष कर बोडर्)
अिधसचू ना
नई िदल् ली, 31 माचर्, 2017
का.आ. 1023(अ).— आयकर अिधिनयम, 1961 (1961 का 43) की धारा 10 के उपवाक्य (46) के तहत (cid:7079)द(cid:7275)
शि(cid:7334)य(cid:7298) का (cid:7079)योग करते हुए क(cid:7286)(cid:7076) सरकार एतद(cid:7367)् ारा उ(cid:7334) उपवाक्य के उ(cid:7374)ेश्य के िलए मध्य (cid:7079)दशे िव(cid:7378)ुत िविनयामक आयोग,
जोिक मध्य (cid:7079)देश सरकार (cid:7367)ारा गिठत आयोग ह,ै को इस आयोग को िन(cid:7388)िलिखत िविन(cid:7416)द(cid:7397) से होने वाले आय के संबंध म(cid:7286)
अिधसूिचत करती ह,ै यथा:—
(क) यािचका शुल्क के रूप म(cid:7286) (cid:7079)ा(cid:7385) रािश
(ख) बचत पर अिजत ब्याज के रूप म(cid:7286) (cid:7079)ा(cid:7385) रािश
(ग) दण्ड और (cid:7079)भार से (cid:7079)ा(cid:7385) रािश; और
(घ) अन्य अनुषंिगक आय जोिक अनुदान, ट(cid:7286)डर कागजात(cid:7298) की िब(cid:7059)ी, (cid:7079)संस्करण शुल्क, अिभ(cid:7079)मािणत (cid:7079)ितशुल्क,
पुराने समाचार प(cid:7074)(cid:7298) की िब(cid:7059)ी, लाइस(cid:7286)स शुल्क, वाहन(cid:7298) के िकराए, कमर्चािरय(cid:7298) को िदए जाने वाले ऋण से (cid:7079)ा(cid:7385) ब्याज
से (cid:7079)ा(cid:7385) रािश, सूचना का अिधकार के आवेदन से (cid:7079)ा(cid:7385) रािश, टैिरफ बुक के संिवतरण से (cid:7079)ा(cid:7385) रािश के रूप म(cid:7286) (cid:7079)ा(cid:7385)
होती ह।ै
2. इस अिधसूचना के (cid:7079)ावधान इस शतर् के साथ लागू ह(cid:7298)गे िक मध्य (cid:7079)दशे िव(cid:7378)ुत िविनयामक आयोग,-
(क) िकसी अन्य वािणिज्यक ि(cid:7059)याकलाप म(cid:7286) संल(cid:7336) नह(cid:7277) होगा;
(ख) के ि(cid:7059)याकलाप और इस तरह की िविन(cid:7416)द(cid:7397) आय के स्वरूप म (cid:7286)पूरे िव(cid:7275)ीय वष(cid:7300) म(cid:7286) कोई बदलाव नह(cid:7277) होगा; और
(ग) आयकर अिधिनयम, 1961 की धारा 139 की उपधारा (4ग) के उपवाक्य (छ) के
(cid:7079)ावधान(cid:7298) के अनुसार अपना आयकर िरटनर् भरेगा।
1827 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
3. इस अिधसूचना के िलए यह माना जाएगा िक यह िव(cid:7275)ीय वषर् 2014-2015, 2015-2016, 2016-2017, 2017-2018
और 2018-2019 के िलए लागू हुई ह।ै
[अिधसूचना सं. 23/2017/फा. सं.196/27/2014-आईटीए- I]
दीपिशखा शमा,र् िनदशे क
स्प(cid:7397)ीकरण ज्ञापन: यह (cid:7079)मािणत िकया जाता ह ैिक इस अिधसूचना को भूतलक्षी (cid:7079)भाव से लागू िकए जाने पर िकसी (cid:7390)ि(cid:7334) पर कोई
(cid:7079)ितकूल (cid:7079)भाव नह(cid:7277) पड़ रहा ह।ै
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 31st March, 2017
S.O. 1023(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, the Madhya Pradesh Electricity
Regulatory Commission, a Commission constituted by the State Government of Madhya Pradesh, in respect of the
following specified income arising to that Commission, namely:—
(a) amount received as petition fees;
(b) amount received as interest on savings;
(c) amount received as fines and charges; and
(d) other incidental income received as Grants, sale of tender documents, processing fees, certified copying
fees, sale of old newspapers, license fee, vehicle rent, interest on loans to staff, Right to Information
receipts, receipts from ‘Distribution of Tariff Book’.
2. The provisions of this notification shall be effective subject to the conditions that Madhya Pradesh Electricity
Regulatory Commission,—
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income remain unchanged throughout the financial years; and
(c) shall file returns of income in accordance with the provision of clause (g) of sub-section (4C) section
139 of the Income-tax Act, 1961.
3. This notification shall be deemed to have been applied for the financial years 2014-2015, 2015-2016, 2016-
2017, 2017-2018 and 2018-2019
[Notification No. 23/2017/F. No.196/27/2014-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.