TaxTMI 
TaxTMI 
Rationalisation of the provisions of section 115BBE
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....ationalisation of the provisions of section 115BBE <br>Budget<br>Dated:- 5-2-2018<br><BR>Rationalisation of the provisions of section 115BBE Section 115BBE provides for tax on income referred to in s....
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....ection 68 or section 69 or section 69A or section 69B or section 69C or section 69D at a higher rate of sixty percent. Sub-section (2) of said section provides that no deduction in respect of any exp....
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....enditure or allowance or set-off of any loss shall be allowed to the assessee under any provision of the Act in computing his income referred to in clause (a) of sub-section (1). In order to rational....
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....ize the provisions of section 115BBE, it is proposed to amend the said sub-section (2) so as to also include income referred to in clause (b) of sub-section (1). This amendment will take effect retro....
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....spectively from 1st April, 2017 and will, accordingly, apply in relation to the assessment year 2017-2018 and subsequent years. [Clause 34]<BR> News - Press release - PIB....