MINISTRY OF FINANCE

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION

New Delhi, the 12th August, 2024

S.O. 3253(E).—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, ‘West Bengal Transport Workers’ Social Security Scheme’ (PAN AAALW0133G), a body established by the Government of West Bengal in respect of the following specified income arising to that body, namely:

a. Amount received in the form of Government grants;

b. Amount received as cess under the West Bengal Motor Transport Workers’ Welfare Cess Act, 2010 (West Bengal Act V of 2010) and rules framed thereunder;

c. Amount received as registration fees paid by the registered beneficiaries; and

d. Interest earned on bank deposits.

2. This notification shall be effective subject to the conditions that West Bengal Transport Workers’ Social Security Scheme -

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.

3. This notification shall be deemed to have been applied for assessment years 2021-2022, 2022-2023 and 2023-2024 relevant for the financial years 2020-2021, 2021-2022 and 2022-2023 and shall be applicable for assessment years 2024-2025 and 2025-2026 relevant for the financial years 2023-2024 and 2024-2025 respectively.

[Notification No. 99/2024/F. No. 300196/19/2019-ITA-I(Pt.1)]

VIKAS SINGH, Director (ITA-I)

Explanatory Memorandum

It is certified that no person is being adversely affected by giving retrospective effect to this notification.