MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
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