Exemption to Kerala Headload Workers Welfare Board u/s 10(46) of Income Tax Act, 1961

Exemption to Kerala Headload Workers Welfare Board u/s 10(46) of the Income Tax Act, 1961 for five AY beginning 2020-2021 CBDT Notification

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)

Notification No. 35 /2019

New Delhi, the 9th April, 2019

S.O. 1539(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, ‘Kerala Headload Workers Welfare Board’, Kochi (PAN AAAJK1176F), a Board constituted by the State Government of Kerala, in respect of the following specified income arising to that Board, namely:—

(a) Amount received in the form of grants-in-aid and loan from Government;

(b) Levy collected under the Kerala Headload Workers Act, 1978 (20 of 1980), Kerala Headload Workers rules 1981 and schemes there under;

(c) Registration fees collected from members registered with the board as beneficiaries;

(d) Sums received as deposit from employers as per Para 27 of Kerala Headload Workers (regulation of employment and welfare) Scheme 1983 formulated under section 13 of the Kerala Headload Workers Act, 1978 (20 of 1980);

(e) Contribution from the members as defined in the Kerala Headload Workers Act, 1978 (20 of 1980), Kerala Headload Workers Rules 1981 and Scheme there under;

(f) Interest on loans and advances given to staff of the board and workers;

(g) Sums received as wages from employers as per Para 24(a) and 24(b) of Kerala Headload Workers (Regulation of employment and welfare) Scheme 1983 formulated under section 13 of the Kerala Headload Workers Act, 1978 (20 of 1980); and

(h) Interest earned on (a) to (g) above.

2. This notification shall be effective subject to the conditions that Kerala Headload Workers Welfare Board, Kochi—

(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 assessment year 2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025.

[F.No.300196/75/2018-ITA-I]

RAJARAJESWARI R., Under Secy.