Notification No. 131/2021 [F. No. 300196/30/2021-ITA-I]/ SO 4637(E)

Last updated: 12 November 2021

Save Share

Quick Summary

The Central Board of Direct Taxes has issued a notification granting income tax exemption to the Assam Building and Other Construction Workers Welfare Board. This exemption applies to specific income sources, including labour cess, registration fees, member contributions, capital gains, and interest earned. The notification is effective for the financial years 2021-2022 through 2025-2026, provided the Board adheres to certain conditions.

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 10th November, 2021 S.O. 4637(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 p

Daily Limit Reached

You have reached your daily limit of 2 Free Notice & Circular

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Community
Daily E-Newsletter
Unlimited Notice & Circular Access
Profile Visitors
Link Social Profiles
Featured Job Posts
Pro Badge
Expert GST Guidance
Unlimited Forum Replies
Download Content in PDF

BEST VALUE

2 YEAR PLAN

3,499

(Excl. of GST ₹629)

1 YEAR PLAN

1,999

(Excl. of GST ₹359)

3 MONTHS PLAN

999

(Excl of GST ₹179)

View all CCI PRO benfits

Already a PRO member? Login here for an ad-free experience.

FAQ :

This notification exempts certain income of the Assam Building and Other Construction Workers Welfare Board from income tax under the Income-tax Act, 1961.

The exemption covers labour cess, beneficiaries registration fees, members' contributions, capital gains on investments, and interest income earned on these.

The Board must not engage in commercial activity, its activities and income nature must remain unchanged, and it must file its income tax return as per Section 139(4C)(g) of the Income-tax Act, 1961.

This notification is applicable for the financial years 2021-2022, 2022-2023, 2023-2024, 2024-2025, and 2025-2026.

The notification was issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes.