CBDT Notifies Income Tax Exemption To Chandigarh Building And Other Construction Workers Welfare Board
The Central Board of Direct Taxes (CBDT) has notified the income tax exemption to Chandigarh Building and Other Construction Workers Welfare Board.The Board has exempted the income of Chandigarh Building and Other Construction Workers Welfare Board arising from Proceeds of the Cess collected under the Building & Other Construction Workers Welfare Cess Act, 1996 and rules and contribution...
The Central Board of Direct Taxes (CBDT) has notified the income tax exemption to Chandigarh Building and Other Construction Workers Welfare Board.
The Board has exempted the income of Chandigarh Building and Other Construction Workers Welfare Board arising from Proceeds of the Cess collected under the Building & Other Construction Workers Welfare Cess Act, 1996 and rules and 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.
The notification shall be effective subject to the various conditions.
The Chandigarh Building and Other Construction Workers Welfare Board, Chandigarh shall not engage in any commercial activity. The activities and the nature of the specified income shall remain unchanged throughout the financial years. The Board shall file a return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.
The 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.
Notification No. 59 /2023
Date: 10/08/2023
Click Here To Read The Notification