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Compliance Calendar for the month of July, 2023 Simplifying Export Procedures: Tax-Free Supplies for International Trade

(Department of Revenue)

New Delhi, the 8th July, 2022

S.O. 3142(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, ‘Bihar Electricity Regulatory Commission’ (PAN AAALB1099E), a Commission constituted by the State
Government of Bihar, in respect of the following specified income arising to that Commission, namely:
(a) amount received as license fee from licensees in electricity;
(b) amount received as application processing fee; and
(c) Interest earned on Government Grants and on (a) & (b) above.

  1. This notification shall be effective subject to the conditions that Bihar Electricity Regulatory
    (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.
  2. This notification shall be deemed to have been applied for the financial year 2021-2022 and shall
    be applicable with respect to the financial years 2022-2023, 2023-2024, 2024-2025 and 2025-2026.
    [Notification No. 81/2022/F. No. 300196/14/2021-ITA-I]
    SOURABH JAIN, Under Secy.
    Explanatory Memorandum
    It is certified that no person is being adversely affected by giving retrospective effect to this notification.

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