Home Income tax Individual Income Tax CBDT Notifies Income Tax Exemption to Punjab Building and Other Construction Welfare Board under clause (46) of Section 10 of IT Act

CBDT Notifies Income Tax Exemption to Punjab Building and Other Construction Welfare Board under clause (46) of Section 10 of IT Act

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CBDT Notifies Income Tax Exemption to Punjab Building and Other Construction Welfare Board under clause (46) of Section 10 of IT Act

CBDT Notifies Revenue Tax Exemption to Punjab Constructing and Different Development Welfare Board below clause (46) of Part 10 of IT Act

The Central Board of Direct Taxes(CBDT) has notified Revenue Tax Exemption to Punjab Constructing and Different Development Welfare Board below clause (46) of Part 10 of IT Act through issuing Notification.

The Notification Acknowledged as, “In train of the powers conferred by clause (46) of part 10 of the Revenue-tax Act, 1961 (43 of 1961), the Central Authorities hereby notifies for the needs of the mentioned clause, Punjab Constructing and Different Development Welfare Board (PAN: AAALP0698P), a physique constituted by the State Authorities of Punjab, in respect of the desired earnings arising to that Board.”

The required earnings arising to that Board are as comply with:

(a) Labour Cess assortment;

(b) Contribution assortment; and

(c) Curiosity earned on (a) and (b) above.

The provisions of this notification shall be efficient topic to the situations that Punjab Constructing and Different Development Welfare Board,-

(a) shall not interact in any industrial exercise;

(b) actions and the character of the desired earnings stay unchanged all through the monetary years; and

(c) shall file returns of earnings in accordance with the availability of clause (g) of sub-section (4C) part 139 of the Revenue-tax Act, 1961.

This notification shall be deemed to have been utilized for the for the A.Y 2022-2023 and A.Y 2023-2024 related for F.Y. 2021-2022 and 2022-2023 respectively.

For Official Notification Obtain PDF Given Beneath:

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