The Central Board of Direct Taxes (CBDT) on August 10, 2023, issued a notification for the purposes of the ‘Chandigarh Building and Other Construction Workers Welfare Board, Chandigarh’ (PAN AALC0595J) a Board constituted by the Administrator, Union Territory, Chandigarh, in respect of the certain specified income arising to that Board.
The following are the specified income arising to the Board namely: -
• Proceeds of the Cess collected under the Building & Other Construction Workers Welfare Cess Act, 1996 (28 of 1996) and rules made thereunder
• Contribution and registration fees paid by the Beneficiaries under the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996 and rules made thereunder
• Interest earned on the aforesaid points
This notification shall be effective subject to the conditions that Chandigarh Building and Other Construction Workers Welfare Board, Chandigarh namely: -
• Shall not engage in any commercial activity
• Activities and the nature of the specified income shall remain unchanged throughout the financial years
• Shall file the return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.
This notification shall be deemed to have been applied for assessment years 2021-22 and 2023-24 relevant for the financial years 2020-2021 and 2022-2023 respectively.
[Notification No. S.O. 3580(E)]
