This notification, S.O. 4263(E), issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes on October 13, 2021, grants an exemption under clause 46 of section 10 of the Income-tax Act, 1961 to the Punjab State Electricity Regulatory Commission (PSERC), Chandigarh (PAN: AAAGT0052L). The exemption applies to the following specified income arising to the Commission: (a) processing fees for tariff determination; (b) license fees; (c) petition fees; and (d) interest income earned on bank deposits. The notification is subject to the conditions that PSERC, Chandigarh: (a) does not engage in any commercial activity; (b) maintains the same activities and nature of specified income throughout the financial years; and (c) files its return of income as per clause (g) of subsection (4C) of section 139 of the Income-tax Act, 1961. This notification is effective for the financial years 2021-2022, 2022-2023, 2023-2024, 2024-2025, and 2025-2026. The notification number is 121/2021 (F.No.3001965/2021-ITAI), and it was issued by Saurabh Jain, Under Secretary.
Key Entities Referenced
Income-tax Act, 1961: A law, specifically section 10 clause 46 and section 139 subsection 4C clause g, is referenced for tax exemptions and income return filing.
Central Board of Direct Taxes: A department under the Ministry of Finance responsible for issuing the notification.
Ministry of Finance: The government ministry under which the Department of Revenue and Central Board of Direct Taxes fall.
Punjab State Electricity Regulatory Commission, Chandigarh: An organization established by the state government of Punjab, which is the subject of the notification regarding income tax exemptions.
Punjab: The state whose government established the Punjab State Electricity Regulatory Commission.
New Delhi: The location where the notification was issued.
Financial Years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and 2025-2026: The financial years to which the notification applies.
SOURABH JAIN: Under Secretary who signed the notification.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-14102021-230414
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असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 3916] नई दिल्ली, बृहस्ट्प जतिार, अक्त बू र 14, 2021/ आजि न 22, 1943
No. 3916] NEW DELHI, THURSDAY, OCTOBER 14, 2021/ ASVINA 22, 1943
जित्त मंत्रालय
(रािस्ट्ि जिभाग)
(केंद्रीय प्रत्यक्ष कर बोडड)
अजधसचू ना
नई दिल्ली, 13 अक् तूबर, 2021
का.आ. 4263(अ).—आयकर अजधजनयम, 1961 (1961 का 43) की धारा 10 के खण्ड (46) द्वारा प्रित्त िजियों
का प्रयोग करत े हुए, केन्द्द्र सरकार, एतद्द्वारा “पंिाब राज्य जिद्युत जिजनयामक आयोग” चण्डीगढ़ (पनै -AAAGT0052L),
िो दक पंिाब की राज्य सरकार द्वारा स्ट्थाजपत एक आयोग ह ैको उद्भूत होने िाली जनम्नजलजखत जिजनर्िष्टड आय के संबंध म ें
उि खण्ड के प्रयोिनाथ ड अजधसजू चत करती ह,ै नामत :-
(क) िुल्क जनधाडरण के जलए प्रसंस्ट्करण िल्ु क के रूप म ेंप्राप्त राजि;
(ख) लाइसेंस िुल्क के रूप म ेंप्राप्त राजि;
(ग) याजचका िुल्क के रूप म ेंप्राप्त राजि; तथा
(घ) बैंक िमा पर अर्िडत ब्याि आय की राजि।
5883 GI/2021 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
2. यह अजधसूचना इन ितों के अधीन प्रभािी होगी दक पंिाब राज्य जिद्युत जनयामक आयोग, चण्डीगढ़,-
(क) दकसी व्यािसाजयक गजतजिजध म ें जलप्त नहीं होगा;
(ख) जित्तीय िर्षों के िौरान गजतजिजध तथा जनर्िष्टड आय की प्रकृजत अपररिर्तडत रहगें ी; और
(ग) आयकर अजधजनयम, 1961 की धारा 139 की उपधारा (4ग) खण्ड (छ) के प्रािधान के अनसु ार आयकर
जििरणी िाजखल करेगा।
3. यह अजधसूचना जित्तीय िर्षों 2021-2022, 2022-2023, 2023-2024, 2024-2025 तथा 2025-2026 के
संबंध म ेंलागू होगी।
[अजधसूचना स.ं 121/2021 फा.स.ं 300196/5/2021-आईटीए-I]
सौरभ िैन, अिर सजचि
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 13th October, 2021
S.O. 4263(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, ‘Punjab State Electricity
Regulatory Commission’, Chandigarh (PAN- AAAGT0052L), a commission established by the state government of
Punjab, in respect of the following specified income arising to the Commission, namely:-
(a) amount received in the form of processing fee for the determination of tariff;
(b) amount received in the form of licence fee;
(c) amount received in the form of petition fee; and
(d) amount of interest income earned on bank deposits.
2. This notification shall be effective subject to the conditions that Punjab State Electricity Regulatory
Commission, Chandigarh,-
(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 financial years 2021-2022, 2022-2023, 2023-2024,
2024-2025 and 2025-2026.
[Notification No. 121 /2021 F.No.300196/5/2021-ITA-I]
SOURABH JAIN, 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.