This notification, S.O. 5177(E), issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes on October 8, 2018, notifies the Kerala State Electricity Regulatory Commission, Thiruvananthapuram, for the purposes of clause 46 of section 10 of the Income-tax Act, 1961. The notification specifies that the following income streams of the commission are covered: grants and loans received from the State Government of Kerala, license fees under the Electricity Act, 2003, petition fees under the Electricity Act, 2003, and interest earned from investments.
The notification is subject to the conditions that the Kerala State Electricity Regulatory Commission (a) shall not engage in any commercial activity; (b) that the 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.
This notification is deemed to have applied for the assessment year 2018-19 and shall apply with respect to the assessment years 2019-20, 2020-21, 2021-22 and 2022-23.
The notification number is 63/2018, with file number F. No. 300196/36/2018-ITA-I. The issuing authority is Vinay Sheel Gautam, Under Secretary.
Key Entities Referenced
Kerala State Electricity Regulatory Commission, Thiruvananthapuram: A commission established by the Government of Kerala. This is the main entity to which the notification applies.
Government of Kerala: The state government providing grants and loans to the Kerala State Electricity Regulatory Commission.
Electricity Act, 2003: A law under which the Kerala State Electricity Regulatory Commission collects license and petition fees.
Income-tax Act, 1961: The primary legislation under which the notification is issued, specifically referring to clause 46 of section 10.
Central Board of Direct Taxes: The issuing authority for the notification, under the Department of Revenue, Ministry of Finance.
Ministry of Finance: The government ministry under which the Department of Revenue and the Central Board of Direct Taxes fall.
Vinay Sheel Gautam: The Under Secretary who signed the notification.
New Delhi: Location of publication of the Gazette notification
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5897 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
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िववरणी दायर करेगा।
3. यह अिधसूचना िनधाNरण वषN 2018-19 के िलए लागू समझी जाएगी और िनधाNरण वष N 2019-20, 2020-21,
2021-22 और 2022-23 के िलए लागू होगी।
[अिधसूचना सं. 63/2018, फा. सं. 300196/36/2018-आईटीए-I]
िवनय शील गौतम, अवर सिचव
(cid:11)(cid:11)(cid:11)(cid:11)ाााा(cid:12)(cid:12)(cid:12)(cid:12)ययययाााा(cid:13)(cid:13)(cid:13)(cid:13)ममममकककक (cid:15)(cid:15)(cid:15)(cid:15)ाााापपपपननननःःःः————यह (cid:18)मािणत (cid:4)कया जाता ह ै (cid:4)क इस अिधसूचना को भूतलVी (cid:18)भाव स े लाग ू (cid:4)कए जान े स े कोई
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MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 8th October, 2018
S.O. 5177(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, ‘Kerala State Electricity Regulatory
Commission’, Thiruvananthapuram, a commission established by the Government of Kerala, in respect of the following
specified income arising to that commission, namely:—
(a) Grants and loans received from State Government of Kerala;
(b) License fee under Electricity Act, 2003;
(c) Petition fees under Electricity Act, 2003;
(d) Interest earned from investment.
2. This notification shall be effective subject to the conditions that Kerala State 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
Income-tax Act, 1961.
3. This notification shall be deemed to have been applied for the assessment year 2018-19 and shall apply with
respect to the assessment years 2019-20, 2020-21, 2021-22 and 2022-23.
[Notification No. 63/2018, F. No. 300196/36/2018-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.