CBDTNotificationS.O. 3580(E)10 Aug 2023

Exemption for Chandigarh Building and Other Construction Workers Welfare Board

Who: Chandigarh Building and Other Construction Workers Welfare Board, Chandigarh
Action: 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.

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What changed

The Central Government notifies specified income of the Chandigarh Building and Other Construction Workers Welfare Board as exempt under clause (46) of section 10 of the Income-tax Act, 1961. The specified income includes cess proceeds, beneficiary contributions, registration fees, and interest earned on them. The Board must not engage in any commercial activity. The activities and the nature of the specified income must remain unchanged throughout the financial years. The Board must file a return of income under section 139 sub-section (4C) clause (g). This notification applies retrospectively for assessment years 2021-2022 to 2023-2024.

What you must do

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.

Key dates

Assessment years 2021-2022 to 2023-2024: Not dated

Law this touches

Who is affected

Chandigarh Building and Other Construction Workers Welfare Board, Chandigarh

Ask about this notification

Written automatically from the official document. It is not a professional review, so check material decisions against the official record.

Document text

Prepared for reading; wording retained from the source.

Official source

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 10th August, 2023

S.O. 3580(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, ‘Chandigarh Building and Other Construction Workers Welfare Board, Chandigarh’(PAN AALC0595J), a Board constituted by the Administrator, Union territory, Chandigarh, in respect of the following specified income arising to the said Board, as follows:

(a) Proceeds of the Cess collected under the Building & Other Construction Workers Welfare Cess Act, 1996 (28 of 1996) and rules made thereunder;
(b) Contribution and registration fees paid by the Beneficiaries under the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996 and rules made thereunder; and
(c) Interest earned on (a) & (b) above.

This notification shall be effective subject to the conditions that Chandigarh Building and Other Construction Workers Welfare Board, Chandigarh -

(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.

This notification shall be deemed to have been applied for assessment years 2021-2022 to 2023-2024 relevant for the financial years 2020-2021 to 2022-2023 respectively.

[Notification No. 59 /2023 F. No. 300196/17/2020-ITA-I] VIKAS SINGH, Director (ITA-I)

Explanatory Memorandum

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

Source details

Official title: notification no. 59/2023 f. no. 300196/17/2020 ita i / so 3580 e
Source: Central Board of Direct Taxes / Income Tax Department
Type: notification
Published by source: 10 Aug 2023
Document number: S.O. 3580(E)
Issuing division: CENTRAL BOARD OF DIRECT TAXES
Coverage area: direct-tax

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Exemption for Chandigarh Building and Other Construction Workers Welfare Board

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