TMI BlogInsertion of new section 115BBG- Tax on income from transfer of carbon credits.X X X X Extracts X X X X X X X X Extracts X X X X ..... , namely:- Tax on income from transfer of carbon credits. 115 BBG. (1) Where the total income of an assessee includes any income by way of transfer of carbon credits, the income-tax payable shall be the aggregate of (a) the amount of income-tax calculated on the income by way of transfer of carbon credits, at the rate of ten per cent.; and (b) the amount of income-tax with which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income from transfer of carbon credits. The proposed new section 115BBG seeks to provide that in case of an assessee whose total income includes any income by way of transfer of carbon credits, the income-tax payable shall be the aggregate of the amount of income-tax calculated on the income by way of transfer of carbon credits at the rate of ten per cent., and the amount of income-tax with wh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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