The Central Government vide notification dated 3rd March, 2023 has directed that that Karnataka State Building and Other Construction Workers Welfare Board to 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 for following income:
(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.
Subject to the conditions ,-
(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
This notification shall be deemed to have been applied for the financial year 2020-2021 (for 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.
