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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 23rd August, 2023 S.O. 3776(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, District Mineral Foundation Trust as specified in the schedule to this notification, constituted by Government in exercise of powers conferred under section 9(B) of the Mines
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FAQ :
This notification specifies that the 'District Mineral Foundation Trust' (DMF) is recognised as a 'class of Authority' for the purposes of clause (46) of section 10 of the Income-tax Act, 1961, allowing for certain income exemptions.
The notification covers contributions by leaseholders, interest received for late payments, penalties charged to leaseholders, income from interest on DMF funds, interest on savings bank accounts, and interest on excess funds invested in term deposits.
This notification is issued under clause (46) of section 10 of the Income-tax Act, 1961.
The District Mineral Foundation Trust was constituted by the Government in exercise of powers conferred under section 9(B) of the Mines and Minerals (Development and Regulation) Amendment Act, 2015.
This notification was issued on the 23rd August, 2023.
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Source : https://egazette.gov.in/WriteReadData/2023/248265.pdf