Notification under clause 46 of section 10 of Income tax Act 1961 in case of Punjab Building and Other Construction

5439 GI/202 3 (1) रजिस्ट्री सं. डी.एल.- 33004/99 REGD. No . D. L. -33004/99 EXTRAORDINARY PART II —Section 3 —Sub-section ( ii) PUBLISHED BY AUTHORITY No. 3617] NEW DELHI , WEDNES DAY , AUGUST 23, 2023/ BHADRA 1, 1945 CG-DL-E-23082023-248266 2 THE GAZETTE OF INDI A : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE (Department of Revenue ) (CENTRAL BOARD OF DI RECT TAXES) NOTIFICATION New Delhi, the 23rd August, 2023 S.O. 3777 (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, Punjab Building and Other Construction Welfare Board (PAN: AAALP0698P), a body constituted by the State Government of Punjab, in respect of the following specified income arising to that Board, namely: - (a) Labour Cess collection; (b) Contribution collection; and (c) Interest earned on (a) and (b) above. 2. The provisions of th is notification shall be effective subject to the conditions that Punjab Building and Other Construction Welfare Board, - (a) shall not engage in any commercial activity; (b) activities and the nature of the specified income remain unchanged throughout the financial years; and (c) shall file returns of income in accordance with the provision of clause (g) of sub -section (4C) section 139 of the Income -tax Act, 1961. 3. This notification shall be deemed to have been applied for the for the A.Y 2022 -2023 and A. Y 2023 -2024 relevant for F.Y. 2021 -2022 and 2022 -2023 respectively. [Notification No. 67/2023 /F.No.300196/4/2022 -ITA-I] VIKAS SINGH , Director (ITA-I) 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 R oad, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054.