Quick Summary
The Central Board of Direct Taxes (CBDT), under the Ministry of Finance, has issued two separate notifications granting income tax exemptions under Section 10 of the Income-tax Act, 1961 to the Haryana Building and Other Construction Workers Welfare Board and the Ayodhya Vikas Pradhikaran (Ayodhya D
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1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
3 Months PLAN
999
(Excl. of GST ₹179)
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FAQ :
The Haryana Building and Other Construction Workers Welfare Board and the Ayodhya Development Authority have received income tax exemptions.
The exemptions were granted under Section 10 of the Income-tax Act, 1961, specifically under clauses (46) and (46A).
The Haryana Board's exempted income includes registration fees and subscriptions from construction workers, proceeds from cess, and interest earned on bank deposits.
The Haryana Board must not engage in commercial activities, maintain its nature of income and functions, and file income tax returns as prescribed.
The Ayodhya Development Authority's tax exemption is effective from Assessment Year 2024-25, provided it continues its urban planning and development functions.
The CBDT has clarified that the retrospective effect of these notifications will not adversely impact any individual or entity.
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