MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION No. 101/2016
New Delhi, the 27th October, 2016
S.O. 3336(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, a body constituted by the State Government of Bihar, 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 effective subject to the conditions that Bihar Electricity Regulatory Commission,-
(a) shall not engage in any commercial activity;
(b) activities and the nature of the specified income remain unchanged throughout the financial years; and
(c) shall file returns of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the Income-tax Act, 1961.
3. This notification shall be applicable for the financial years 2016-17 to 2020-21.
[F. No. 300196/12/2016-ITA-I]
DEEPSHIKHA SHARMA, Director