Haryana Labour Welfare Board Income Exemption under Section 10(46)

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 14th July, 2021

S.O. 2826(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, ‘Haryana Labour Welfare Board’ (PAN AAATH2451C), a Board constituted by the State Government of Haryana, in respect of the following specified income arising to that Board, namely:-

• (a) Contribution to the Labour Welfare Fund by the Employers and Employees;
• (b) Unpaid accumulation which were due to employees but not paid to them within a period of 2 years by the Employer;
• (c) Fine on delayed deposit of contribution and unpaid accumulation;
• (d) Interest on loans and advances given to staff of the board; and
• (e) Interest income received from investment.

2. This notification shall be effective subject to the conditions that Haryana Labour 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.
• (d) shall file the Audit report along with the Return, duly verified by the accountant as provided in explanation to section 288(2) of the Income-tax Act, 1961 along with a certificate from the chartered accountant that the above conditions are satisfied.

3. This notification shall apply for the period from 01-06-2020 to 31-03-2021 in the financial year 2020-2021 and also from the financial years 2021-2022, 2022-2023, 2023-2024 and 2024-2025.

[Notification No. 80/2021/F. No. 300196/30/2018-ITA-I] PRAJNA PARAMITA, Director

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