APMCs, SAMBs to get income tax exemption under DTC Bill
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Agri panels to get tax exemption

Agriculture Produce Market Committees and State Agricultural Marketing Boards have been included in the list of institutions eligible for income tax exemption under the proposed Direct Taxes Code Bill.

 PTI   
  • Shimla,  October 21, 2010  
  • |  
  • UPDATED   10:45 IST

Agriculture Produce Market Committees and State Agricultural Marketing Boards have been included in the list of institutions eligible for income tax exemption under the proposed Direct Taxes Code Bill, an official spokesman of the state government said on Wednesday.

Inclusion of Agriculture Produce Market Committees (APMC) and State Agricultural Marketing Boards (SAMB) in the list of institutions exempted from income tax will safeguard the interests of the farming community, he said.

Chief Minister Prem Kumar Dhumal played a vital role in taking up the issue with Finance Minister Pranab Mukherjee, he added.

The spokesman said the HP State Agricultural Marketing Board/Committees were not carrying out any profit-making, trading, merchandising, processing, buying or selling activities and were local bodies managed by democratically elected local authorities.

These boards generated income by collecting a market fee at the rate of 1 per cent on the sale or purchase price of the produce and the same was utilised for development of marketing infrastructure.

He said the market committee or boards incurred expenditure on construction of auction platforms, cover sheds, internal roads in market yards, drainage, drinking water, electricity supply and ensuring cleanliness and hygienic conditions in the market yards, farmers' rest houses and godowns, besides marketing infrastructure.