Contact us   Feedback   Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

COMMODITIES TRANSACTION TAX

Income Tax - Tax Liability in special Circumstances / Specific Cases - 11 - (CTT) has been levied by the Finance Act, 2012, on taxable commodities transactions entered into in a recognized association. Salient features of this tax are given below:- will come into force from a date which is to be notified by the central Government. Taxable commodities transaction means a transaction of sale of commodity derivatives in respect of commodities (other than agricultural commodities), traded in recogni .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

es transactions entered into in the course of his business during the previous year shall be allowable as deduction, if the income arising from such taxable commodities transactions is included in the income computed under the head ―Profits and gains of business or profession. Every recognized association shall collect the from the seller who enters into a taxable commodities transaction in that recognized association (such association will also be known as assessee for this purpose). The .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version