Ministry of Finance Department of Revenue Central Board of Direct Taxes

Notification u/s 10(46) of the Income Tax Act, 1961 in the case of Forum of Regulators

Issue Date: 19 June 2025 Published: 19 June 2025

Gazette ID: CG-DL-E-19062025-263981 Download PDF

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Core Purpose

The Central Government notifies 'Forum of Regulators' for income tax exemption under clause (46) of section 10 of the Income-tax Act, 1961, for specified income.

Detailed Summary

The Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, issued S.O. 2740(E) on June 19, 2025, notifying the 'Forum of Regulators' (PAN: AAAJF0126G) for the purposes of clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961). This authority, constituted by the Government of India, Ministry of Power, under sub-section (2) of section 166 of the Electricity Act, 2003 (No. 36 of 2003), is granted exemption for specific income including grants received from the Government, membership fees from Central and State Electricity Regulatory Commissions, and interest earned on bank deposits. The notification is effective subject to conditions that the Forum of Regulators shall not engage in commercial activity, its activities and the nature of the specified income shall remain unchanged throughout the financial years, and it shall file return of income in accordance with 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 the financial years 2011-2012 to 2015-2016, relevant to assessment years 2012-2013 to 2016-2017. An Explanatory Memorandum certifies that no person is being adversely affected by giving retrospective effect to this notification (Notification No. 66/2025/F. No. 300196/33/2012-ITA-I).

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-19062025-263981 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 2675] NEW DELHI, THURSDAY, JUNE 19, 2025/JYAISTHA 29, 1947 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 19th June, 2025 S.O. 2740(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, 'Forum of Regulators' (PAN: AAAJF0126G), an authority constituted by Govt. of India, Ministry of Power, in exercise of the powers conferred by sub-section (2) of section 166 of the Electricity Act, 2003 (No. 36 of 2003) in respect of the following specified income arising to that authority, namely :- (a) Grants received from the Government; (b) Membership fees received from Central and State Electricity Regulatory Commissions and (c) Interest earned on bank deposits. 2. This notification shall be effective subject to the conditions that the Forum of Regulators: - (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 financial years 2011-2012 to 2015-2016 relevant to assessment years 2012-2013 to 2016-2017. [Notification No. 66/2025/F. No. 300196/33/2012-ITA-I] MEENAKSHI SINGH, Dy. Secy. Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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