Good news for Puri residents who have received hefty amounts of compensation for vacating their lands or other Government assistances as the sums so received are most likely to be exempted from the Income Tax (IT) purview.
Union Finance Minister Nirmala Sitharaman has agreed to consider a proposal of Chief Minister Naveen Patnaik in this regard.
Earlier, Patnaik had written to the Union Finance Minister seeking Income Tax exemption for people who have received compensation and other rehabilitation assistance for land acquired or gifted suo motu to the Puri district administration for security and beautification of the Jagannath Temple and its surrounding in Puri.
Responding to the letter, Sitharaman has agreed to consider the CM’s proposal favourably, said sources.
