Chandigarh Building and Other Construction Workers Welfare Board notified under section 10(46) of the Income-tax Act, 1961
S.O. 3580(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, ‘Chandigarh Building and Other Construction Workers Welfare Board, Chandigarh’ (PAN AALC0595J), a Board constituted by the Administrator, Union territory, Chandigarh, in respect of the following specified income arising to the said Board, as follows:
(a) Proceeds of the Cess collected under the Building & Other Construction Workers Welfare Cess Act, 1996 (28 of 1996) and rules made thereunder;
(b) Contribution and registration fees paid by the Beneficiaries under the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996 and rules made thereunder; and
(c) Interest earned on (a) & (b) above.
- This notification shall be effective subject to the conditions that Chandigarh Building and Other Construction Workers Welfare Board, Chandigarh –
(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. - This notification shall be deemed to have been applied for assessment years 2021-2022 to 2023 2024 relevant for the financial years 2020-2021 to 2022-2023 respectively.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.
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