CBDT grants Income Tax Exemption to Andhra Pradesh and Puducherry Building and Other Construction...

The CBDT (Central Board of Direct Taxes) has granted "income tax exemption to Andhra Pradesh and Puducherry Building and Other Construction Workers Welfare Board." This exemption, under Section 10(46) of the Income Tax Act, applies to specific income sources like cess, registration fees, and grants, ensuring maximum utilization of funds for worker welfare. The move aims to support statutory bodies working for the social security of unorganized sector laborers. This reinforces the government's commitment to protecting welfare funds from taxation, ensuring they directly benefit construction workers through various schemes like pension, maternity aid, and accident cover.