The Kerala State Electricity Board Ltd. (KSEBL) on June 02, 2023, issued a notification regarding the applicability of the Recent amendments in Income Tax introduced in the Union Budget 2023
This has a reference to Notification No.31/2023/F.No.200/3/2023-ITA-1 dated May 24, 2023, and the CBDT Circular No. 04 of 2023 dated April 05, 2023
The following has been stated namely: -
• It states that the amendments in the Income Tax Act introduced through Finance Act 2023, applicable to KSEBL shall be as follows namely: -
(i) Change in the Tax slab u/s 115BAC (New Regime) of the Income Tax Act
(ii) Change in Benefits for those employees opting to get taxed u/s 115BAC
(iii) Rebate u/s 87A
(iv) Responsibility of the DDOs as per the CBDT Circular dated April 05, 2023
(v) Calculation of Exemption for Terminal Earned Leave Surrender (TELS)
• It has directed all the ARU beads to take necessary action to comply with the same
[Notification No. FA-ATC-DA2/2023/61]
