Central Government hereby notifies 'Haryana Labour Welfare Board' a Board constituted by the State Government, in respect of the specified income arising to that Board- (Ministry of Finance ) (14 Jul 2021)

MANU/CBDT/0090/2021

Direct Taxation

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, 'Haryana Labour Welfare Board' (PAN AAATH2451C), a Board constituted by the State Government of Haryana, in respect of the following specified income arising to that Board, namely:-

(a) Contribution to the Labour Welfare Fund by the Employers and Employees;

(b) Unpaid accumulation which were due to employees but not paid to them within a period of 2 years by the Employer;

(c) Fine on delayed deposit of contribution and unpaid accumulation;

(d) Interest on loans and advances given to staff of the board; and

(e) Interest income received from investment.

2. This notification shall be effective subject to the conditions that Haryana Labour 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 return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.

(d) shall file the Audit report along with the Return, duly verified by the accountant as provided in explanation to section 288(2) of the Income-tax Act, 1961 along with a certificate from the chartered accountant that the above conditions are satisfied.

3. This notification shall apply for the period from 01-06-2020 to 31-03-2021 in the financial year 2020-2021 and also from the financial years 2021-2022, 2022-2023, 2023-2024 and 2024-2025.

Tags : NOTIFICATION BOARD INCOME