Central Board of Direct Taxes (CBDT) issued notification no. 122/2025 dated 22.07.2025 to provide exemption u/s 10(46) of the Income tax Act, 1961 to “Andhra Pradesh Building and Other Construction Workers Welfare Board” (PAN: AAALT1405A), a Board constituted by Government of Andhra Pradesh, in respect of the following specified income arising to the said Board, as follows:
(a) Cess received;
(b) Registration & Renewal fee received/collected from the building and other Construction Workers; and
(c) Interest received on bank deposits
2. This notification shall be effective subject to the conditions that Andhra Pradesh Building and Other Construction Workers 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.
3. This notification shall be deemed to have been applied for assessment years 2019-2020, to 2023-2024 relevant for the financial years 2018-2019 to 2022-2023.
Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification
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