CBDTNotificationNotification No. 93/2023 F. No. 196/26/2022-ITA-I26 Oct 2023

Exemption for Telangana Building and Other Construction Workers Welfare Board

Who: Telangana Building and Other Construction Workers Welfare Board
Action: The board must 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 the Telangana Building and Other Construction Workers Welfare Board under clause (46) of section 10 of the Income-tax Act, 1961. The board receives tax exemption for specified income from cess, registration and renewal fee collection from workers, and interest on bank deposits. The board must not engage in any commercial activity. The activities and the nature of the specified income must remain unchanged throughout the financial year. The board must file return of income under section 139. The notification applies for assessment year 2023-2024 relevant to the financial year 2022-2023.

What you must do

The board must 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 year 2023-2024 relevant to the financial year 2022-2023: Not dated

Law this touches

Who is affected

Telangana Building and Other Construction Workers Welfare Board

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 26th October, 2023

S.O. 4700(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, ‘Telangana Building and Other Construction Workers Welfare Board’, (PAN AAEAT9368D), a board established by the Government of Telangana, in respect of the following specified income arising to that board, namely:

(a) Cess received;
(b) Registration and renewal fee collection from the Building and other construction workers; and
(c) Interest received on bank deposits.

This notification shall be effective subject to the conditions that Telangana 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 year; 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 year 2023-2024 relevant to the financial year 2022-2023.

[Notification No. 93/2023 F. No. 196/26/2022-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. 93/2023 f. no. 196/26/2022 ita i / so 4700 e
Source: Central Board of Direct Taxes / Income Tax Department
Type: notification
Published by source: 26 Oct 2023
Document number: Notification No. 93/2023 F. No. 196/26/2022-ITA-I
Issuing division: CENTRAL BOARD OF DIRECT TAXES
Coverage area: direct-tax

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Exemption for Telangana Building and Other Construction Workers Welfare Board

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