U/s 10(46) of IT Act 1961 - Central Government notifies ' District Mineral Foundation Trust ' in respect of the specified income arising to that Trust - 73/2020 - Income Tax Act, 1961
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Income exemption for District Mineral Foundation Trusts clarifies specified receipts exempt subject to non-commercial activity and filing conditions. Central Government notifies District Mineral Foundation Trusts as a class of authority under section 10(46) to exempt specified receipts - contributions by leaseholders, interest for late payment, penalties, interest on DMF funds including savings and term deposits - subject to conditions: no commercial activity, unchanged activities and income character across years, statutory return filing and audited report with a chartered accountant's certificate; notification applies retrospectively to specified assessment years and to listed Trusts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Income exemption for District Mineral Foundation Trusts clarifies specified receipts exempt subject to non-commercial activity and filing conditions.
Central Government notifies District Mineral Foundation Trusts as a class of authority under section 10(46) to exempt specified receipts - contributions by leaseholders, interest for late payment, penalties, interest on DMF funds including savings and term deposits - subject to conditions: no commercial activity, unchanged activities and income character across years, statutory return filing and audited report with a chartered accountant's certificate; notification applies retrospectively to specified assessment years and to listed Trusts.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
