CBDT notifies exemption u/s 10(46) to Tamilnadu Construction Workers Welfare Board
The Central Board of Direct Taxes (CBDT) vide its Notification No 47/2022 [S.O. 1977(E)] dated 28th April, 2022 notifies the exemption under clause (46) of section 10 of the Income-tax Act, 1961 to the Tamilnadu Construction Workers Welfare Board having Permanent Account Number AAATT9440P a Board constituted by the state Government of Tamil Nadu.
MINISTRY OF FINANCE
(Department of Revenue)
(Central Board of Direct Taxes)
NOTIFICATION
New Delhi, the 28th April, 2022
S.O. 1977(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, Tamilnadu Construction Workers Welfare Board (PAN AAATT9440P), a Board constituted by the state Government of Tamil Nadu, in respect of the following specified income arising to that Board, namely:-
(a) Contribution to Fund for benefit of manual workers in the employment in construction or maintenance of dams, bridges, etc.;
(b) Fee collection; and
(c) Interest earned on (a) and (b) above.
2. This notification shall be effective subject to the conditions that Tamilnadu 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 be deemed to have been applied for the financial year 2020-2021 (for period from 01-06-2020 to 31-03-2021) and for the financial year 2021-2022 and shall be applicable with respect to the financial years 2022-2023, 2023-2024 and 2024-2025.
[Notification No. 47/2022 F.No.300196/43/2017-ITA-I]
SOURABH JAIN, Under Secy.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
