CBDT exempts Kerala Autorickshaw Workers Welfare Fund Scheme, Kollam from Income Tax u/s 10(46) [Read Notification]

The Central Board of Direct Taxes ( CBDT ) exempted the Kerala Autorickshaw Workers Welfare Fund Scheme, Kollam under Section 10(46) from Income Tax Act, 1961. The board vide notification no. S.O. 1777(E) dated 24th April 2024 has notified the same.

Pursuant to the authority granted by clause (46) of section 10 of the Income-tax Act, 1961, the Central Government hereby announces the inclusion of the 'Kerala Autorickshaw Workers Welfare Fund Scheme, Kollam', established by the Government of Kerala, under the provisions of the said clause.

The income following are exempted:

1. Grant received from State Government of Kerala
2. Contribution received from the workers registered as members in the Scheme
3. Contribution received from self-employed persons and employers for workers, registering as members of the Scheme
4. Registration fee
5. Interest earned on bank deposits

This notification shall be effective subject to the conditions that Kerala Autorickshaw Workers Welfare Fund Scheme, Kollam,-

1. shall not engage in any commercial activity;
2. activities and the nature of the specified income shall remain unchanged throughout the financial years; and
3. 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 applied for assessment years 2024-2025, 2025-2026, 2026-2027, 2027-2028 and 2028-2029 relevant for the financial years 2023-24, 2024-2025, 2025-2026, 2026-2027 and 2027-2028 respectively.

To Read the full text of the Order CLICK HERE

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