Telangana Building and Other Construction Workers Welfare Board exempted from Income Tax u/s 10(46); Notifies CBDT [Read Notification]

The Central Board of Direct Taxes (CBDT), vide notification no.S.O. 4374(E) issued on 36th October 2023 has notified the income tax exemption to ‘Building and Other Construction Workers Welfare Board’ under Section 10(46) of Income Tax Act, 1961.

The income tax exemption is available to the following income:

(a) Cess received;

(b) Registration and renewal fee collection from the Building and other construction workers; and

(c) Interest received on bank deposits.

This notification shall be effective subject to the conditions that Telangana Building and Other Construction Workers Welfare Board, -

(a) shall not engage in any commercial activity;

(b) activities and the nature of the specified income shall remain unchanged throughout the financial year; 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.

To Read the full text of the Notification CLICK HERE

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