IT exemption to improve fiscal health of Agri Marketing Board

Chandigarh, May 20 (UNI) The central government's decision to exempt State Agricultural Marketing Boards and Market Committees from the purview of income tax will address the income tax liability of Haryana State Agricultural Marketing Board which is more than Rs 30 crore for the current year.

An official release issued here today said this decision will improve the financial health of various State Agricultural Marketing Boards and Market Committees across the country.

The Central Government had inserted a new clause 26 (AAB) in Section 10 of the Income Tax Act to provide tax exemption to the income of the Marketing Committees and Agricultural Marketing Boards constituted under the relevant State Acts.

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