Govt Notifies Income Tax Exemption to Telangana Building and Other Construction Workers Welfare Board [Read Notification]

Form 3CD - CBDT

The Central Government, on Thursday, notified that the receipts received by the Telangana Building & Other Construction Workers Welfare Board is exempt from Income Tax under section 10(46) of the Income Tax Act, 1961.

The Telangana Building & Other Construction Workers Welfare Board is a tripartite body consisting of worker representatives, employer representatives and Government officials. The Board has carried on extensive drives and registered more than 8.85 lakhs construction workers as beneficiaries and also formulated and have been implementing various schemes such as marriage gift, Maternity Benefit, Fatal Accident Relief, Disability Relief, Natural Death Relief etc.

As per section 10(46) of the Income Tax Act, exemption can be provided to income earned by a notified body, authority, board, trust or commission which is set up or constituted by a Central State or Provincial Act or constituted by the Central Government or State Government with the object of regulating or administering an activity for the benefit of the general public.

As per the present notification, the receipts by the Board under the head cess, Registration and renewal fee collection from the Building and other construction workers and interest from deposits are exempted from income tax subject to conditions specified in the Act.

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