Notificaition Under Section 10(46) of the Income tax Act 1961 in case of Telangana Building and Other Construction Workers Welfare Board

EXTRAORDINARY PART II —Section 3 —Sub-section ( ii) PUBLISHED BY AUTHORITY No. 4513] NEW DELHI, THURS DAY , OCTOBER 26, 2023/ KARTIKA 4, 1945 CG-DL-E-26102023-249715 MINISTRY OF FINANCE (Department of Revenue ) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New D elhi, the 26th October, 2023 S.O. 4 700(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, ‘ Telangana Building and Other Construction Workers Welfare Board’, (PAN AAEAT9368D ), a board established by the Government of Telangana , in respect of the following specified income arising to that bo ard, namely: (a) Cess received; (b) Registration and renewal fee collection from the Building and other construction workers; and (c) Interest received on bank deposits. 2. This notification shall be effective subject to the conditions that Telangana Building and 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 year; 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 deemed to have been applied for assessment year 2023 -2024 relevant to the financial year 2022 -2023. [Notification No. 93/2023 F. No. 196/26/2022-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 Publis hed by the Controller of Publications, Delhi -110054.