MINISTRY OF FINANCE

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION NO. 131/2021

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 purposes of the said clause, ‘Assam Building and Other Construction Workers Welfare Board’ (PAN AAAJA2255M), a Board constituted by the State Government of Assam, in respect of the following specified income arising to that Board, namely:-

(a) Labour cess received;

(b) Beneficiaries registration fees;

(c) Members contribution;

(d) Capital gain on sale/redemption of investments; and

(e) Interest income earned on (a) to (b) above.

2. This notification shall be effective subject to the conditions that Assam 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 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 apply with respect to the financial years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and 2025-2026.

[F. No. 300196/30/2021-ITA-I]

SOURABH JAIN, Under Secy