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of <h1>Building and Other Construction Workers Welfare Board receipts exempt u/s10(46), conditional, retrospective for AYs 2022-23 to 2026-27</h1> Notification grants exemption under section 10(46) of the Income-tax Act to West Bengal Building and Other Construction Workers Welfare Board in respect of specified receipts-cess under the Building and Other Construction Workers Welfare Cess Act, registration fees and annual subscriptions from registered construction workers, grants-in-aid and government loans, and interest on investments-thereby rendering those receipts exempt from tax. The exemption is subject to conditions that the Board shall not engage in commercial activity, shall maintain the nature of specified income and activities unchanged each financial year, and shall file returns as required by clause (g) of section 139(4C), non-compliance exposing the Board to penal action and withdrawal of exemption. The notification is given retrospective effect for AYs 2022-23 through 2025-26 and applies to AY 2026-27.
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