Ministry of Finance
(Department of Revenue)
(Central Board of Direct Taxes)

Notification No. 63/2018

New Delhi, the 8th October, 2018

S.O. 5177(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, ‘Kerala State Electricity Regulatory Commission’, Thiruvananthapuram, a commission established by the Government of Kerala, in respect of the following specified income arising to that commission, namely:-

(a) Grants and loans received from State Government of Kerala;

(b) License fee under Electricity Act, 2003;

(c) Petition fees under Electricity Act, 2003;

(d) Interest earned from investment.

2. This notification shall be effective subject to the conditions that Kerala State Electricity Regulatory Commission –

(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.

3. This notification shall be deemed to have been applied for the assessment year 2018-19 and shall apply with respect to the assessment years 2019-20, 2020-21, 2021-22 and 2022-23.

[Notification No. 63/2018, F. No. 300196/36/2018-ITA-I]

Explanatory Memorandum:—It is certified that no person is being adversely affected by giving retrospective effect to this notification.