Tax exemption for District Mineral Foundation Trusts covers specified contribution and interest incomes, subject to non commercial and filing conditions. District Mineral Foundation Trusts constituted under the Mines and Minerals Amendment Act, 2015 are notified as a class of authority eligible for exemption under clause (46) of section 10, covering contributions by leaseholders, late payment interest from leaseholders, penalties charged to leaseholders, interest on DMF funds, savings account interest, and interest on excess funds in term deposits, subject to conditions prohibiting commercial activity, requiring unchanged activities and income nature across financial years, and mandated income tax return filing; applicability is set retrospectively for the stated assessment year and for specified subsequent assessment years for Trusts listed in the schedule.
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.
Tax exemption for District Mineral Foundation Trusts covers specified contribution and interest incomes, subject to non commercial and filing conditions.
District Mineral Foundation Trusts constituted under the Mines and Minerals Amendment Act, 2015 are notified as a class of authority eligible for exemption under clause (46) of section 10, covering contributions by leaseholders, late payment interest from leaseholders, penalties charged to leaseholders, interest on DMF funds, savings account interest, and interest on excess funds in term deposits, subject to conditions prohibiting commercial activity, requiring unchanged activities and income nature across financial years, and mandated income tax return filing; applicability is set retrospectively for the stated assessment year and for specified subsequent assessment years for Trusts listed in the schedule.
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