The Central Board of Direct Taxes (CBDT) on May 08, 2024, notified for the purposes of the Tamil Nadu Electricity Regulatory Commission (PAN AAAGT0048J), established in respect of the specified income arising by the Tamil Nadu Government.
The following are the specified income arising to the Commission namely:
• Government Grants;
• Fees levied under clause (g) of sub-section (1) of Section 86 read with Section 181 of the Electricity Act, 2003;
• Penalties levied u/s 146 of the Electricity Act, 2003; and
• Interest earned on bank deposits.
This notification shall be effective subject to the conditions that the Tamil Nadu Electricity Regulatory Commission:
• Shall not engage in any commercial activity;
• Activities and the nature of the specified income shall remain unchanged throughout the financial years; and
• Shall file a return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.
This notification shall be deemed to have been applied for assessment years 2018-2019, 2019-2020, 2020-2021, 2021-2022 and 2022-2023 relevant for the financial years 2017-2018, 2018-2019, 2019-2020, 2020-2021 and 2021-2022 respectively.
[Notification No S.O. 1965(E)]
