U/s 10(46) of IT Act 1961 - Central Government notifies ‘Assam Building and Other Construction Workers Welfare Board’ in respect of the specified income arising to that Board. - 131/2021 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 131/2021 New Delhi, the 10th November, 2021 S.O. 4637(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, Assam Building and Other Construction Workers Welfare Board (PAN AAAJA2255M), a Board constituted by the State Government of Assam, in respect of the following specified income arising to that Board, namely:- (a) Labour cess received; (b) Beneficiaries registration fees; (c) Members contribution; (d) Capital gain on sale/redemption of investments; and (e) Interest income earned on (a) to (b) above. 2. This notification shall be effective subject to the conditions that Assam 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. 3. This notification shall apply with respect to the financial years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and 2025-2026. [F. No. 300196/30/2021-ITA-I] SOURABH JAIN, Under Secy.