Income of Haryana Building & Other Construction Workers Welfare Board exempted u/s 10(46) for Fee, subscription, cess & interest income for five years from FY 2020-21 to 2024-25
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 78 /2021
New Delhi, the 9th July, 2021
Â
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:—
Â
(a) Registration fees and yearly subscription collected from Construction Workers registered with the Haryana Building and Other Construction Workers Welfare Board as beneficiaries;
Â
(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.
Â
2.This notification shall be effective subject to the conditions that Haryana Building and Other Construction Workers Welfare Board,—
Â
(a) shall not engage in any commercial activity;
Â
(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and
Â
(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.
Â
(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.
Â
3. 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.
Â
[F.No.300196/5/2018-ITA-I]
Â
PRAJNA PARAMITA,
Director
Director
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
Â
- Income Tax notice by process server held invalid for non acknowledgement/endorsement
- No income tax is payable on compensation on land acquired under NHAI Act 1956
- Documents filed on the day when assessment order passed are not additional evidence
- Addition of bogus purchases deleted as opportunity of cross examination not given
- GST Registration to be granted automatically and electronically within 3 Working Days
){kind=link}