Tax exemption power for mineral oil participation allows government to notify tax modifications for specified industry participants. Central Government may, by notification, grant an exemption, reduction in rate, or other modification of income-tax for specified classes engaged in prospecting for, extraction or production of mineral oil, applying to whole or part of their income or assessment status; notifications must be laid before each House of Parliament. Covered classes include participants under government agreements, suppliers of services, facilities or plant to such businesses, and their employees; 'mineral oil' includes petroleum and natural gas and 'status' means the assessment category.