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<h1>Telangana Construction Workers Welfare Board Gains Tax Exemption for Specified Income Under IT Act Section 10(46.</h1> The Central Government has notified the 'Telangana Building and Other Construction Workers Welfare Board' under Section 10(46) of the Income-tax Act, 1961, exempting specified income from taxation. The exempted income includes cess received, registration and renewal fees from workers, and interest on bank deposits. The exemption is contingent upon the board not engaging in commercial activities, maintaining the nature of specified income, and filing income returns as per the Act's provisions. This notification applies retrospectively for the assessment year 2023-2024, corresponding to the financial year 2022-2023. No adverse effects on any person are anticipated from this retrospective application.