CBDTNotificationNotification No. 78/2019 / F. No. 300196/46/2019-ITA-I09 Oct 2019

Exemption for Kerala Bamboo, Kattuvalli and Pandanus Leaf Workers Welfare Fund Board

Who: Kerala Bamboo, Kattuvalli and Pandanus Leaf Workers Welfare Fund Board
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 Kerala Bamboo, Kattuvalli and Pandanus Leaf Workers Welfare Fund Board for income tax exemption under section 10 clause 46 of the Income-tax Act, 1961. The specified income includes government grants, contributions, registration fees, passbook charges, identity card costs, fines, and interest. The Board must not engage in commercial activity. The activities and nature of income must remain unchanged. The Board must file a return of income under section 139 sub-section 4C clause g. This notification applies for assessment years 2020-2021 through 2024-2025.

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 2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025: Not dated

Law this touches

Who is affected

Kerala Bamboo, Kattuvalli and Pandanus Leaf Workers Welfare Fund Board

Exceptions

The Board shall not engage in any commercial activity.

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 9th October, 2019

S.O. 3629(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, ‘Kerala Bamboo, Kattuvalli and Pandanus Leaf Workers’ Welfare Fund Board’ (PAN AAAJK1244Q), a Boardconstituted by the Government of Kerala, in respect of the following specified income arising to that Board, namely:—

(a) Government grant received for Scheme and Non Scheme Pension;
(b) Contributions received from Employees and Employers;
(c) Registration Fees;
(d) Passbook charges collected;
(e) Cost of duplicate identity card issued;
(f) Fine collected; and
(g) Interest earned on (a) to (f) above.

This notification shall be effective subject to the conditions that Kerala Bamboo, Kattuvalli and Pandanus Leaf Workers’ Welfare Fund 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.

This notification shall apply with respect to the assessment years 2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025. [Notification No. 78 /2019/F. No. 300196/46/2019-ITA-I] PRAJNA PARAMITA, Director

Source details

Official title: notification no. 78/2019 f.no. 300196/46/2019 ita i / so 3629 e
Source: Central Board of Direct Taxes / Income Tax Department
Type: notification
Published by source: 09 Oct 2019
Document number: Notification No. 78/2019 / F. No. 300196/46/2019-ITA-I
Issuing division: Central Board of Direct Taxes
Coverage area: direct-tax

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Exemption for Kerala Bamboo, Kattuvalli and Pandanus Leaf Workers Welfare Fund Board

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