The Central Government has issued a notification under section 10(46) of the Income-tax Act, 1961, to grant tax exemption to the 'West Bengal Transport Workers' Social Security Scheme' (PAN AAALW0133G). The notification specifies that the Scheme, established by the Government of West Bengal, is exempt from income tax on certain types of income including government grants, cess under the West Bengal Motor Transport Workers’ Welfare Cess Act, registration fees, and interest on bank deposits.

The exemption is subject to the conditions that the Scheme must not engage in commercial activities, its activities and income sources must remain consistent, and it must file its income tax returns as required. This notification is effective from assessment years 2021-2022 to 2025-2026, covering financial years from 2020-2021 to 2024-2025.

The explanatory memorandum certifies that this notification's retrospective application does not adversely affect any individual.