Odisha

316 DMF Trusts In Mining States Exempted From Income Tax

By
OB Bureau

New Delhi: The Finance Ministry has exempted 165 District Mineral Foundation (DMF) Trusts from Income Tax, taking the total number of DMF trusts with such exemption to 316.

Thanking Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for the Income Tax exemption to DMF Trusts on Saturday, Coal and Mines Minister Pralhad Joshi said it will result in more fund availability with them and ensure better implementation and outcome-oriented activities for welfare of mining affected people.

A Gazette notification has been issued to this effect by Ministry of Finance (Department of Revenue) (Central Board of Direct Taxes). Earlier, Ministry of Mines had taken up with Ministry of Finance regarding issuance of notification for Income-tax exemption to the District Mineral Foundations.

Through the amendment in Mines & Minerals (Development & Regulation) (MMDR) Act, in 2015, the Centre made provision for establishment of DMF Trust in all the districts affected by mining. So far, DMFs have been set up in 600 districts of 22 states including Odisha which have framed DMF rules.

The DMF aims at working for the interest and benefit of persons and areas affected by mining related operations in such manner as may be prescribed by the state government.

OB Bureau

Recent Posts

Priyanka Gandhi Leads In Wayanad With Margin Of Over 4 Lakh Votes

Wayand: Congress leader Priyanka Gandhi Vadra is leading by over 4 lakh votes in Kerala’s…

November 23, 2024

E-Bike Catches Fire On Trishulia Bridge In Odisha’s Cuttack

Cuttack: An electric scooter caught fire on on Trishulia bridge in Cuttack on Saturday morning. According…

November 23, 2024

Jharkahand Polls: INDIA Bloc Leading In Over 43 Seats, JMM’S Hemant Soren Ahead In Barhait

Ranchi: As Election Commission of India was counting votes for Jharkhand Assembly polls on Saturday…

November 23, 2024

Odisha BJD Leader Pranab Prakash Das’ Cousin Held For Assaulting Vendor

Bhubaneswar: Police on Saturday arrested Bhaba Prasad Das, former Jajpur Municipality chairperson and cousin of…

November 23, 2024

BJP-Led Mahayuti Takes Early Lead In Maharashtra, Crosses Majority Mark

Mumbai: The counting of votes is underway for the Maharashtra Assembly election today. According to…

November 23, 2024

Prathamastami: When Odisha Celebrates The Firstborns; Enduri Pitha & Other Rituals

Bhubaneswar: Prathamastami is one of the most popular festivals of Odisha celebrated on the eighth…

November 23, 2024

RSP Signs Deal With Adani To Augment Production At Taldih Mine In Odisha

Bhubaneswar: Rourkela Steel Plant (RSP) has entered into a long-term agreement with Adani Enterprises Limited…

November 23, 2024

Odisha To Be Partner State For International Gita Mahotsav 2024; Check Programme Schedule

Bhubaneswar: Odisha will be the partner state for the upcoming International Gita Mahotsav-2024, scheduled to…

November 23, 2024