CBDT Notifies ‘District Mineral Foundation Trust’ for Section 10(46) Exemption
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- By Chetan Kulasri
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- Last Updated on 6 October, 2023
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Notification No. 86/2023, dated 04-10-2023
The Central Board of Direct Taxes (CBDT) has notified ‘District Mineral Foundation Trust’ for the purposes of clause (46) of section 10 of the Income-tax Act, 1961. The exemption has been provided for the following incomes:
a) Contribution by lease Holder to DMF as per the Mines and Minerals (Contribution to District Mineral Foundation) Rules, 2015;
b) Interest received from lease holders for late payment;
c) Any Penalty charged to lease holder;
d) Income from Interest on fund available under DMF;
e) Interest received on Saving Bank Accounts; and
f) Interest received on Excess Fund invested in Term Deposit.
The exemption shall be applicable for assessment years 2023-2024 to 2027-28.
Click Here To Read The Full Notification
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