Exemption for West Bengal Transport Workers’ Social Security Scheme · S.O. 3253(E)
CBDT notification S.O. 3253(E) · 12 Aug 2024
Official title
notification no. 99/2024 f.no. 300196/19/2019 ita i pt.1 / so 3253 e
Official record
Open source pageSummary
Check the official recordWhat changed
The Central Government notifies the West Bengal Transport Workers’ Social Security Scheme for income tax exemption under section 10(46) of the Income-tax Act, 1961. This exemption applies to income from government grants, welfare cess, registration fees, and bank interest. The scheme must not engage in commercial activity. The activities and nature of income must remain unchanged throughout the financial years. The scheme must file a return of income under section 139(4C)(g). This notification applies to assessment years 2021-2022 through 2025-2026.
What you must do
- The scheme must file a return of income.
Key dates
- Notification date
- 12 Aug 2024
- Applicable assessment years
- Not dated
Document text
हह
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 12th August, 2024
S.O. 3253(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, ‘West Bengal Transport Workers’ Social Security Scheme’ (PAN AAALW0133G), a body established by the Government of West Bengal in respect of the following specified income arising to that body, namely:
- (a) Amount received in the form of Government grants;
- (b) Amount received as cess under the West Bengal Motor Transport Workers’ Welfare Cess Act, 2010 (West Bengal Act V of 2010) and rules framed thereunder;
- (c) Amount received as registration fees paid by the registered beneficiaries; and
- (d) Interest earned on bank deposits.
- This notification shall be effective subject to the conditions that West Bengal Transport Workers’ Social Security Scheme -
- (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, 2022-2023 and 2023-2024 relevant for the financial years 2020-2021, 2021-2022 and 2022-2023 and shall be applicable for assessment years 2024-2025 and 2025-2026 relevant for the financial years 2023-2024 and 2024-2025 respectively.
[Notification No. 99/2024/F. No. 300196/19/2019-ITA-I(Pt.1)]
VIKAS SINGH, Director (ITA-I)
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.
Source details
- Source
- Central Board of Direct Taxes / Income Tax Department
- Type
- notification
- Published by source
- 12 Aug 2024
- Document number
- S.O. 3253(E)
- Issuing division
- Central Board of Direct Taxes
- Coverage area
- direct-tax