Tax Exemptions Expanded for Coal Mines and Employee Provident Fund Trustees Under Sections 10(25) and 17(2)
The amendment modifies the Income-tax Act, 1961 by expanding tax exemptions for income received by trustees of Coal Mines and Employees' Provident Fund Boards on behalf of Deposit-linked Insurance Funds. The changes specifically update section 10, clause (25) and section 17, clause (2) to include provisions for these specific provident fund and insurance fund mechanisms, ensuring tax-exempt status for designated income streams.
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