Income of Maharashtra Electricity Regulatory Commission exempted from income tax


Central Government vide notification dated 17 April, 2023 has clarified that following income generated by ‘Maharashtra Electricity Regulatory Commission’ shall be exempted from income tax-
(a) Grants from Government of Maharashtra;
(b) Fees for annual licence;
(c) Interest on Fixed Deposit and Savings Account;
(d) Fees for application/petition filed;
(e) Fees for Documents;
(f) Penalty for delayed payment of Annual Licence Fees;
(g) Fees for RTI;
(h) Sale of Scrap;
(i) Interest on Loans and Advances given to employees;
(j) Fees for annual performance review;
(k) Fees for determination of tariff; and
(l) Fees for initial licence.

(m) Profit on sale of fixed assets;
(n) Charges collected for the personal use of office vehicle by employees;
(o) Interest on Income tax Refund; and
(p) Interest earned on Government Securities.

This notification shall apply with respect to the assessment years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and 2025-2026.

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