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

Law Minister Assures ‘Crime-Free Odisha For Women’ By 2036 Amid Outrage Over Cuttack Gangrape

Bhubaneswar/Cuttack: Amid statewide outrage over alleged gang-rape of a girl college student in Odisha's Cuttack…

November 8, 2024

CID To Investigate Case Of ‘Missing Samosas’ Meant For Himachal CM? Where Did They Vanish?

New Delhi: A controversy has erupted in Himachal Pradesh over samosas that went missing from…

November 8, 2024

IT Engineer Held For Raping Colleague On False Promise Of Marriage In Bhubaneswar

Bhubaneswar: An IT engineer was arrested by the Commissionerate Police on Friday on charges of…

November 8, 2024

In-Charge Medical Officer & Pharmacist Caught Taking Rs 40K Bribe In Odisha

Bhubaneswar: The Odisha Vigilance sleuths on Friday apprehended medical officer in-charge of Boipariguda Community Health…

November 8, 2024

Men Shouldn’t Tailor Women’s Clothes Or Cut Their Hair, UP Women’s Body Proposes

New Delhi: Men should not tailor clothes for women or cut a woman’s hair either,…

November 8, 2024

Driver Dead, Over 30 Passengers Injured As Bhubaneswar-Bound Bus Overturns In Nayagarh

Bhubaneswar: Driver of a bus died and over 30 passengers sustained injuries as the vehicle…

November 8, 2024

Rupee Falls To All-Time Low Of 84.37 Against US Dollar

New Delhi: The rupee fell 5 paise to an all-time low of 84.37 against the…

November 8, 2024

[Watch] How BJP MLAs Were Marshalled Out Of J&K Assembly Again Amid Ruckus Over Article 370 Restoration

Srinagar: For the third day in a row, the Jammu and Kashmir assembly on Friday…

November 8, 2024