This notification, S.O. 618(E), issued by the Ministry of Finance's Central Board of Direct Taxes on February 23, 2017, grants an income tax exemption under clause 46 of Section 10 of the Income-tax Act, 1961 to the Assam Electricity Regulatory Commission. The exemption applies to the following income sources: government grants, license fees, petition fees and fines, and interest earned on deposits of these funds. This exemption is conditional upon the Assam Electricity Regulatory Commission not engaging in commercial activities, maintaining unchanged activities and income sources, and filing income tax returns as per clause (g) of subsection (4C) of Section 139 of the Income-tax Act, 1961. The notification is applicable for financial years 2016-17 to 2020-21. The issuing Director is Deepshikha Sharma, and the notification number is 14/2017(F. No. 196/30/2016-ITAI).
Key Entities Referenced
Income-tax Act, 1961: A tax law in India, referenced as the basis for the notification.
Central Board of Direct Taxes: The government body issuing the notification under the Department of Revenue, Ministry of Finance.
Ministry of Finance: The government ministry under which the Department of Revenue and Central Board of Direct Taxes operate.
Assam Electricity Regulatory Commission: The entity constituted by the Government of Assam, whose income is specified in the notification.
Government of Assam: The state government that constituted the Assam Electricity Regulatory Commission.
New Delhi: The location where the notification was issued.
Section 10, Clause 46 of the Income-tax Act, 1961: The specific section and clause of the Income-tax Act that grants the power for this notification.
Section 139 of the Incometax Act, 1961: A section of the Income-tax Act, 1961 related to filing income returns.
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((((कककक(cid:9)(cid:9)(cid:9)(cid:9)(cid:10)(cid:10)(cid:10)(cid:10)ीीीीयययय (cid:13)(cid:13)(cid:13)(cid:13)(cid:14)(cid:14)(cid:14)(cid:14)यययय(cid:15)(cid:15)(cid:15)(cid:15) ककककरररर बबबबोोोोडडडड(cid:19))(cid:19))(cid:19))(cid:19))
अअअअििििधधधधससससचचूूचचूू ननननाााा
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666611118888((((अअअअ))))....—आयकर अिधिनयम, 1961 (1961 का 43) क(cid:11) धारा 10 के खंड (46) (cid:15)ारा (cid:16)द(cid:17) शि(cid:20)य(cid:22)
का (cid:16)योग करते (cid:27)ए क(cid:29)(cid:30) सरकार एतद(cid:15)ारा उ(cid:20) खंड के उ$े%य क(cid:11) पू(त हते ू असम सरकार (cid:15)ारा ग,ठत आयोग, ‘असम रा0य
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िन4िलिखत हःै-
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(ख) लाइस(cid:29)स फ(cid:11)स, यािचका फ(cid:11)स और जुमानD े के =प म(cid:29) (cid:16)ा> रािश; और
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2. यह अिधसूचना असम रा0य िव2ुत िविनयामक आयोग क(cid:11) शतF के अGयधीन (cid:16)भावी होगीः-
(क) (cid:4)कसी भी Iावसाियक गितिविध म(cid:29) शािमल नहJ होगा;
(ख) कायDकलाप और आय िवशेष क(cid:11) (cid:16)कृित िव(cid:17)ीय वषF 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 अनुसार आय क(cid:11)
िववरणी दायर करे।
3. यह अिधसूचना िव(cid:17) वष D2016-17 से 2020-21 के िलए लागू होगी।
[अिधसूचना सं. 14/2017/ फा. सं.196/30/2016-आईटीए-I]
दीपिशखा शमा,D िनदेशक
1057 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 23rd February, 2017
S.O. 618(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 for the said clause, Assam
Electricity Regulatory Commission, constituted by the Government of Assam, in respect of the following
specified income arising to that Commission, namely:-
(a) amount received in the form of government grants;
(b) amount received as license fees, petition fees and fines; and
(c) interest earned on government grants, license fees, petition fees and fines kept as deposits or fixed
deposits with banks.
2. This notification shall be effective subject to the conditions that Assam 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) of
section 139 of the Income-tax Act, 1961.
3. This notification shall be applicable for the financial year 2016-17 to 2020-21.
[Notification No. 14/2017/F. No. 196/30/2016-ITA-I]
DEEPSHIKHA SHARMA, Director
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.