Notification no. 65/2025 dated 19.06.2025- Income tax

Central Board of Direct Taxes (CBDT) issued notification no. 65/2025 dated 19.06.2025 to notify for the purposes of the clause (46) of section 10 of the Income-tax Act, 1961, ‘Kerala Toddy Workers’ Welfare Fund Board’ (PAN: AACFK9819K), a Board established under the Kerala Toddy Workers’ Welfare Fund Act, 1969 (Kerala Act No. 22 of 1969), in respect of the following specified income arising to the said Board, namely:

(a) all sums received under Kerala Toddy Workers’ Welfare Fund Act, 1969 (Kerala Act No. 22 of 1969);

(b) contribution from the members as defined in clause (b) of section 2 of the Kerala Toddy Workers’ Welfare Fund Act, 1969 (Kerala Act No. 22 of 1969);

(c) interest earned on bank deposits.

This notification shall be effective subject to the conditions that ‘Kerala Toddy Workers’ Welfare Fund 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.

This notification shall be deemed to have been applied for assessment years 2022-2023 to 2025-2026 relevant for the financial years 2021-2022 to 2024-2025 and shall be applicable for assessment year 2026-2027 relevant for the financial year 2025-2026.