**Policy Summary:**
This notification, S.O. 4637(E), issued by the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, on November 10, 2021, pertains to an exemption under clause (46) of section 10 of the Income-tax Act, 1961. The notification designates the Assam Building and Other Construction Workers Welfare Board (PAN: AAAJA2255M), a Board constituted by the State Government of Assam, as eligible for exemption on specified income.
The specified income includes: (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.
The exemption is subject to the following conditions: (a) the Board shall not engage in any commercial activity; (b) the Board's activities and the nature of the specified income shall remain unchanged throughout the financial years; and (c) the Board shall file a 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 is applicable for the financial years 2021-2022, 2022-2023, 2023-2024, 2024-2025, and 2025-2026.
The notification number is 131/2021, and the file number is F. No. 300196/30/2021-ITA-I. The issuing authority is Sourabh Jain, Under Secretary.
Key Entities Referenced
Income-tax Act, 1961: A law of India referred to in the context of powers conferred by clause 46 of section 10.
Central Board of Direct Taxes: A department under the Ministry of Finance responsible for issuing the notification.
Ministry of Finance: The Indian government ministry under which the Department of Revenue and Central Board of Direct Taxes operate.
Assam Building and Other Construction Workers Welfare Board: A Board constituted by the State Government of Assam, to which the notification applies, regarding income tax exemptions.
State Government of Assam: The state government that constituted the Assam Building and Other Construction Workers Welfare Board.
New Delhi: The location where the notification was issued.
SOURABH JAIN: Under Secretary who signed the notification.
Notification No. 131/2021: The identification number assigned to the notification.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-10112021-231005
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CG-DL-E-10112021-231005
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असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 4272] नई दिल्ली, बुधिार, निम्ब र 10, 2021/कार्तकड 19, 1943
No. 4272] NEW DELHI, WEDNESDAY, NOVEMBER 10, 2021/KARTIKA 19, 1943
जित्त मत्रं ालय
(रािस्ट्ि जिभाग)
(केंद्रीय प्रत्यक्ष कर बोडड)
अजधसचू ना
नई दिल्ली, 10 निम् बर, 2021
का.आ. 4637(अ).—आयकर अजधजनयम, 1961 (1961 का 43) की धारा 10 के खण्ड (46) द्वारा प्रित्त
िजियों का प्रयोग करत े हुए, केन्द्द्र सरकार एतिद्वारा ‘असम भिन एि ं अन्द्य जनमाडण कार्मडक कल्याण बोड’ड
(पैन-एएएिेए2255एम) को, िो दक असम राज्य सरकार द्वारा स्ट्थाजपत एक सांजिजधक बोडड ह ै को उस बोडड को उद्भूत
होने िाली जनम्नजलजखत जिजनर्िष्टड आय के संबंध में उि खण्ड के प्रयोिनाथ ड अजधसूजचत करती ह,ै अथाडत: -
(क) प्राप्त श्रम उपकर;
(ख) लाभार्थडयों का पंिीकरण िल्ु क;
(ग) सिस्ट्यों का अंििान;
(घ) जबक्री पर पूंिीगत लाभ/जनिेिों का मोचन; तथा
(ङ) उपरोि (क) और (ख) पर अर्ितड ब्याि आय।
2. यह अजधसूचना इन ितों के अधीन प्रभािी होगी दक असम भिन एिं अन्द्य जनमाडण कार्मडक कल्याण बोडड,-
(क) दकसी व्यािसाजयक गजतजिजध में जलप्त नहीं होगा;
6456 GI/2021 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(ख) जित्तीय िर्षों के िौरान गजतजिजध तथा जनर्िष्टड आय की प्रकृजत अपररिर्तडत रहगें ी; और
(ग) आयकर अजधजनयम, 1961 की धारा 139 की उपधारा(4ग) खण्ड (छ) के प्रािधान के अनुसार आयकर
जििरणी िाजखल करेगा।
3. यह अजधसूचना जित्तीय िर्षों 2021-2022, 2022-2023, 2023-2024, 2024-2025 तथा 2025-2026 के
संबंध में लागू होगी।
[अजधसूचना सं. 131/2021/फा. सं. 300196/30/2021-आईटीए-I]
सौरभ िैन, अिर सजचि
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
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.
[Notification No. 131/2021/F. No. 300196/30/2021-ITA-I]
SOURABH JAIN, Under Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.