U/s 10(46) of IT Act 1961 - Central Government notifies ‘Haryana Building and Other Construction Workers Welfare Board’ in respect of the specified income arising to that Board. - 78/2021 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 78/2021 New Delhi, the 9th July, 2021 S.O. 2774(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 Building and Other Construction Workers Welfare Board (PAN AAATH6995H), a Board constituted by the State Government of Haryana, in respect of the following specified income arising to that Board, namely: - (a) Registration fees and yearly subscription collected from Construction Workers registered with the Haryana Building and Other Construction Workers Welfare Board as beneficiaries; (b) Proceeds of the cess collected under the Building Other Construction Workers Welfare Cess Act, 1996 (28 of 1996) and rules there under; and (c) Interest income received from investment. 2. This notification shall be effective subject to the conditions that Haryana 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 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. 1 [ This notification shall be deemed to have been applied for the financial year 2020-2021 to financial year 2024-2025 relevant to the assessment year 2021-2022 to assessment year 2025-2026. ] [F.No.300196/5/2018-ITA-I] PRAJNA PARAMITA, Director Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification. **************** NOTES:- 1. Substituted vide NOTIFICATION NO. 14/2024 dated 23-01-2024 before it was read as, This notification shall be deemed to be applied for the period from 01-06-2020 to 31-03-2021 in the financial year 2020-2021 and shall apply from the financial years 2021-2022, 2022-2023, 2023-2024 and 2024-2025.