This notification, S.O. 284(E), issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, and dated January 18, 2018, grants an income tax exemption to the West Bengal Electricity Regulatory Commission (WBERC) in Kolkata, as per Section 10(46) of the Income-tax Act, 1961.
The exemption applies to:
a) Income from the fund maintained according to the West Bengal Electricity Regulatory Commission Manner of application of Fund Rules, 2006.
b) Income from fees collected according to the West Bengal Electricity fees for application for grant of license Rules, 2005, as notified by the Government of West Bengal.
The notification is subject to the following conditions:
a) WBERC shall not engage in any commercial activity.
b) WBERC's activities and the nature of the specified income shall remain unchanged throughout the financial years.
c) WBERC shall file a return of income in accordance with Section 139(4C)(g) of the Income-tax Act, 1961.
This notification is deemed to have been applied for the financial year 2016-2017 and shall apply with respect to the financial years 2017-2018, 2018-2019, 2019-2020 and 2020-2021.
The notification number is 12018/F. No. 300196/9/2016-ITA-I, and it is issued under the authority of Vinay Sheel Gautam, Under Secretary.
Key Entities Referenced
West Bengal Electricity Regulatory Commission: A commission constituted by the Government of West Bengal.
Kolkata, West Bengal: City in West Bengal where the West Bengal Electricity Regulatory Commission is located.
Income-tax Act, 1961: The primary legislation governing income tax in India; referenced in the notification.
Central Board of Direct Taxes: A department under the Ministry of Finance responsible for direct tax administration.
Ministry of Finance: The ministry responsible for the financial matters of the Government of India.
Department of Revenue: A department under the Ministry of Finance.
West Bengal Electricity Regulatory Commission Manner of application of Fund Rules, 2006: Rules governing the management of funds by the West Bengal Electricity Regulatory Commission.
West Bengal Electricity fees for application for grant of license Rules, 2005: Rules related to the fees charged for license applications by the West Bengal Electricity Regulatory Commission.
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20 और 2020-21 के संबंध म(cid:11) लाग ूहोगी।
[अिधसूचना स.ं 1/2018/फा. सं. 300196/9/2016-आईटीए-I]
िवनय शील गौतम, अवर सिचव
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MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 18th January, 2018
S.O. 284(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, ‘West Bengal
Electricity Regulatory Commission’, Kolkata,a commission constituted by the Government of West Bengal, in
respect of the following specified income arising to that commission, namely:—
(a) income from the fund maintained in accordance with the provisions of the West Bengal
Electricity Regulatory Commission (Manner of application of Fund) Rules, 2006; and
(b) income from the fees collected in accordance with the provisions of the West Bengal
Electricity (fees for application for grant of license) Rules, 2005, notified by the Government
of West Bengal.
2. This notification shall be effective subject to the conditions that West Bengal Electricity Regulatory
Commission, Kolkata,—
(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 be deemed to have been applied for the financial Years 2016-2017 and shall
apply with respect to the Financial Years 2017-2018, 2018-2019, 2019-2020 and 2020-2021.
[Notification No. 1/2018/F. No. 300196/9/2016-ITA-I]
VINAY SHEEL GAUTAM, Under Secy.
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.