Notification No. 78/2021 [F.No.300196/5/2018-ITA-I] / SO 2774(E)

Last updated: 13 July 2021

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The Central Board of Direct Taxes has issued a notification granting income tax exemption to the Haryana Building and Other Construction Workers Welfare Board. This exemption applies to registration fees, yearly subscriptions from registered workers, proceeds from the construction workers welfare cess, and interest income from investments. The notification is effective from 1st June 2020 to 31st March 2021 and for the financial years 2021-2022 through 2024-2025.

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 9th July 2021 S.O. 2774(E).In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, Haryana Building and Other Construction Workers Welfare Board (PAN AAATH6995H), a Board constituted by the State Government of Haryana, in respect of the following specified incom

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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 notification notifies that the Haryana Building and Other Construction Workers Welfare Board is exempted from income tax on specific types of income.

The exemption covers registration fees and yearly subscriptions from construction workers, proceeds from the Building & Other Construction Workers Welfare Cess Act, 1996, and interest income from investments.

The Board must not engage in commercial activity, its activities and income nature must remain unchanged, and it must file income tax returns and an audit report with specific certifications.

The notification is deemed to be applied from 01-06-2020 to 31-03-2021 and will apply for the financial years 2021-2022, 2022-2023, 2023-2024, and 2024-2025.

The notification was issued by the Central Board of Direct Taxes under the Ministry of Finance, Government of India.