Rationalisation of the provisions of section 115BBE

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..... Rationalisation of the provisions of section 115BBE - Budget Dated:- 5-2-2018 - News - Rationalisation of the provisions of section 115BBE Section 115BBE provides for tax on income referred t .....

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..... o in section 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 i .....

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..... n respect of any expenditure 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). .....

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..... In order to rationalize 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 amendm .....

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..... ent will take effect retrospectively from 1st April, 2017 and will, accordingly, apply in relation to the assessment year 2017-2018 and subsequent years. [ Clause 34 ] - News - Press release .....

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..... - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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