Odisha Electricity Regulatory Commission - 48/2013 - Income Tax

GOVERNMENT OF INDIA MINISTRY OF FINANCE ( DEPARTMENT OF REVENUE ) NOTIFICATION No. 48/2013 DATED 3-7-2013 S.O.1997(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, the Odisha Electricity Regulatory Commission, a Commission established by the Government of Odisha, 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 licence fee from licensees in electricity; (c) amount received as application processing fee; and (d) interest earned on Government grants and fee received. 2. This notification shall be deemed to have been applied for the financial year 2012-13 and shall applicable for the financial years 2013-14, 2014-15, 2015-16 and 2016-17. 3. The notification shall be effective subject to the following conditions, namely:- (a) the Odisha Electricity Regulatory Commission does not engage in any commercial activity; (b) the activities and the nature of the specified income of Odisha Electricity Regulatory Commission remain unchanged throughout the financial year; and (c) the Odisha Electricity Regulatory Commission files return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961 . [ F. NO. 196/1/2012-ITA.1] DEEPSHIKHA SHARMA, Dy. Secy. (ITA-I)