notification no. 12/2023 f.no.300196/61/2018 ita i / so 1044 e

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 3rd March, 2023 S.O. 1044(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, Karnataka State Building and Other Construction Workers Welfare Board (PAN AAALK0820C), a Board constituted by the State Government of Karnataka, in respect of the following specified income arising to that Board, namely:- (a) Cess collected on construction cost levied u/s 3(1) of the Building and Other Construction Workers’ Cess Act, 1996; (b) Registration fee & annual subscriptions received from the establishments; and (c) Interest earned on (a) & (b) above. 2. This notification shall be effective subject to the conditions that Karnataka State Building and Other Construction Workers Welfare Board,- (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 year 2020-2021 (for period from 01- 06-2020 to 31-03-2021) and for the financial year 2021-2022 and shall be applicable with respect to the financial years 2022-2023, 2023-2024 and 2024-2025. [Notification No. 12/2023/F.No.300196/61/2018-ITA-I] SOURABH JAIN, Under 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. MANOJ KUMAR VERMA Digitally signed by MANOJ KUMAR VERMA Date: 2023.03.03 22:17:45 +05'30'