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CBDT Notification No. 12/2023 – notifies Karnataka state building and other construction workers’ welfare board for exemption under section 10(46)


(Department of Revenue)


Notification No. 12/2023

S.O. 1044(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, Karnataka State Building and Other Construction Workers Welfare Board (PAN AAALK0820C), a Board constituted by the State Government of Karnataka, in respect of the following specified income arising to that Board, namely:-

(a) Cess collected on construction cost levied u/s 3(1) of the Building and Other Construction Workers Cess Act, 1996;

(b) Registration fee & annual subscriptions received from the establishments; and

(c) Interest earned on (a) & (b) above.

2. This notification shall be effective subject to the conditions that Karnataka State 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 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.

3. This notification shall be deemed to have been applied for the financial year 2020-2021 (for the period from 01-06-2020 to 31-03-2021) and for the financial year 2021-2022 and shall be applicable with respect to the financial years 2022-2023, 2023-2024 and 2024-2025.

[Notification No. 12/2023/F.No.300196/61/2018-ITA-I]