Notification No. 89/2014 [F.No.196/17/2012-ITA.I] / SO 3257(E) : Section 10(46) of the Income-tax Act, 1961 - Exemptions - Statutory body/authority/board/commission - Notified body or authority - West Bengal Building and Other Construction Workers Welfare Board

Notification No. 89/2014 [F.No.196/17/2012-ITA.I] / SO 3257(E)

SECTION 10(46) OF THE INCOME-TAX ACT, 1961 - EXEMPTIONS - STATUTORY BODY/AUTHORITY/BOARD/COMMISSION - NOTIFIED BODY OR AUTHORITY - WEST BENGAL BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD

NOTIFICATION NO. 89/2014 [F.NO.196/17/2012-ITA.I] / SO 3257(E), DATED 23-12-2014

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, 'West Bengal Building and Other Construction Workers Welfare Board', a body constituted by the Government of West Bengal in respect of the following specified income arising to that body, namely:-

(a)		cess collected under the Building and Other Construction Workers Welfare Cess Act, 1996 (28 of 1996)and the rules there under;
(b)		registration fees and yearly subscription collected from construction workers registered with the Board as beneficiaries;
(c)		amount received in the form of grants-in-aid and loan from Government;
(d)		interest income received from investment.

2. This notification shall be applicable for the financial years 2011-12 to 2015-16.

3. The notification shall be subject to the conditions that the West Bengal Building and Other Construction Workers Welfare Board:-

(a)		shall not engage in any commercial activity;
(b)		its activities and the nature of the specified income remain unchanged throughout the financial year; and
(c)		files return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the said Act.

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