Sugar mills will not be subject to income tax on amounts paid to farmers in excess of the fair price remuneration after 2016. The decision was taken at a meeting convened by Union Home and Cooperation Minister Amit Shah in Delhi.
a BJP The delegation, led by opposition leader Devendra Fadnavis, held meetings with Shah in Delhi on Tuesday and Wednesday. The Center issued the notification after two rounds of meetings this week.
Talking to the media, Fadnavis said, “Sugar mills were getting notices from Income Tax for three to four decades. The matter has been resolved giving great relief to both sugar mills and farmers. We thank PM Narendra Modi and Home Minister Amit Shah for tackling this issue. After this, sugar mills will not attract additional income tax if they pay more than FRP to sugarcane farmers after 2016.
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