Ministry of Finance Department of Revenue Central Board of Direct Taxes

Notification u/s 10(46) in Income Tax Act, 1961 in the case of Karnataka State Building and Other Construction Workers Welfare Board

Issue Date: 22 August 2025 Published: 22 August 2025

Gazette ID: CG-DL-E-22082025-265638 Download PDF

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Core Purpose

The Central Government notifies the Karnataka State Building & Other Construction Workers' Welfare Board for income tax exemption under clause (46) of section 10 of the Income-tax Act, 1961.

Detailed Summary

The Ministry of Finance (Department of Revenue), through the Central Board of Direct Taxes, issued Notification S.O. 3853(E) on August 22, 2025. This notification, exercising powers under clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), designates the 'Karnataka State Building & Other Construction Workers' Welfare Board' (PAN AAALK0820C), constituted by the Government of Karnataka, for the purpose of specified income exemption. The exempted income includes grants from the Central Government, sums from other Central Government decided sources, cess collected under Section 3(1) of the Building and Other Construction Workers' Welfare Cess Act, 1996, registration fees and annual subscriptions, and interest from bank deposits. This exemption is subject to conditions: the Board must not engage in commercial activity; its activities and the nature of specified income must remain unchanged throughout the financial years; and it must file returns of income in accordance with clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961. The notification is applicable for assessment years 2026-2027 to 2030-2031, corresponding to financial years 2025-2026 to 2029-2030. An explanatory memorandum certifies that no person is adversely affected by giving retrospective effect to this notification, identified as Notification No. 138/2025/F. No. 300196/87/2024-ITA-I.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-22082025-265638 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 3748] NEW DELHI, FRIDAY, AUGUST 22, 2025/SHRAVANA 31, 1947 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 22nd August, 2025 S.O. 3853(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, “Karnataka State Building & Other Construction Workers' Welfare Board" (PAN AAALK0820C)', a board constituted by Government of Karnataka, in respect of the following specified income arising to the said board, as follows: (a) Grants received from the Central Government; (b) Sums received from such other sources decided by the Central Government; (c) Cess collected on construction cost levied u/s 3(1) of the Building and Other Construction Worders' Welfare Cess Act, 1996; (d) Registration fee and annual subscriptions received from the establishments; and (e) Interest earned on bank deposits. 2. This notification shall be effective subject to the conditions that 'Karnataka Building & 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 years; 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. 3. This notification shall be applicable for assessment year 2026-2027 to 2030-2031 relevant to financial year 2025-2026 to 2029-2030. [Notification No. 138 /2025/F. No. 300196/87/2024-ITA-I] MEENAKSHI SINGH, Dy. Secy. Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. SARVESH KUMAR Digitally signed by SARVESH SRIVASTAVA Date: 2005.08.22 21:54:36 +0530

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