(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

[Notification No. 101/2016/ F. No. 300196/12/2016-ITA-I]  Dated 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.

DEEPSHIKHA SHARMA, Director

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

[Notification No. 101/2016/ F. No. 300196/12/2016-ITA-I]  Dated 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.

DEEPSHIKHA SHARMA, Director