Quick Summary
The Central Board of Direct Taxes (CBDT) has notified income tax exemption for the West Bengal Building and Other Construction Workers Welfare Board under Section 10(46) of the Income-tax Act, 1961, covering specified categories of income earned by the Board. The notification, issued by the Ministr
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FAQ :
The board has been granted an income tax exemption under Section 10(46) of the Income-tax Act, 1961.
The exemption covers cess collected, registration fees and annual subscriptions from workers, government grants-in-aid and loans, and interest earned from investments.
Yes, the board must not engage in commercial activity, must ensure its activities and income nature remain unchanged, and must file income tax returns as required.
The exemption is applicable retrospectively for Assessment Years 2022-23 to 2025-26 and prospectively for Assessment Year 2026-27.
Failure to comply with the conditions may result in penal action under the Income-tax Act and withdrawal of the granted exemption.
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