CBDT Exempts West Bengal Transport Workers’ Social Security Scheme from Income Tax u/s 10(46) [Read Order]

West Bengal Transport Workers’ Social Security Scheme has been exempted from Income tax under Section 10(46) of Income tax act, 1961. The Central Board of Direct Taxes ( CBDT ) notified through notification no. S.O. 3253(E) dated 12th July 2024.  

The following income are exempted from income tax:  

1. Amount received in the form of Government grants; 

2. Amount received as cess under the West Bengal Motor Transport Workers’ Welfare Cess Act, 2010 (West Bengal Act V of 2010) and rules framed thereunder; 

3. Amount received as registration fees paid by the registered beneficiaries; and 

4.  Interest earned on bank deposits.  

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This notification shall be effective subject to the conditions that West Bengal Transport Workers’ Social Security Scheme - 

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. 

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This notification shall be deemed to have been applied for assessment years 2021-2022, 2022-2023 and 2023-2024 relevant for the financial years 2020-2021, 2021-2022 and 2022-2023 and shall be applicable for assessment years 2024-2025 and 2025-2026 relevant for the financial years 2023-2024 and 2024-2025 respectively.  

To Read the full text of the Order CLICK HERE 

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