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The Central Government notifies specified income of the Assam Building and Other Construction Workers Welfare Board for income tax exemption under section 10 clause 46 of the Income-tax Act, 1961. The specified income includes labour cess, registration fees, member contributions, capital gains, and interest income. The Board must not engage in commercial activity. The activities and nature of income must remain unchanged throughout the financial years. The Board must file return of income under section 139 sub-section 4C clause g. This notification applies for the financial years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and 2025-2026.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 10th November, 2021
S.O. 4637(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, ‘Assam Building and Other Construction Workers Welfare Board’ (PAN AAAJA2255M), a Board constituted by the State Government of Assam, in respect of the following specified income arising to that Board, namely:-
[Notification No. 131/2021/F. No. 300196/30/2021-ITA-I] SOURABH JAIN, Under Secy.
