Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
A central government notification under section 10(46) of the Income-tax Act grants tax exemption to a state-constituted building and construction workers' welfare board for specified income: registration fees and annual subscriptions from registered workers, proceeds of the statutory cess under the Building and Other Construction Workers Welfare Cess Act, and interest on bank deposits. The exemption is subject to conditions that the board not undertake commercial activities, maintain the same activity and income character across financial years, and file returns as required by clause (g) of section 139(4C). The notification applies to financial years 2025-26 through 2029-30 (assessment years 2026-27 to 2030-31) and is given retrospective effect with certification of no adverse impact.
A central government notification under section 10(46) of the Income-tax Act grants tax exemption to a state-constituted building and construction workers' welfare board for specified income: registration fees and annual subscriptions from registered workers, proceeds of the statutory cess under the Building and Other Construction Workers Welfare Cess Act, and interest on bank deposits. The exemption is subject to conditions that the board not undertake commercial activities, maintain the same activity and income character across financial years, and file returns as required by clause (g) of section 139(4C). The notification applies to financial years 2025-26 through 2029-30 (assessment years 2026-27 to 2030-31) and is given retrospective effect with certification of no adverse impact.
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