https://www.taxtmi.com/acts?id=23561 A new provision taxes income from transfer of carbon credits by aggregating: a fixed-rate tax on carbon credit income and the tax on the taxpayer's remaining income after excluding that carbon credit income. No deduction, expenditure or allowance is permitted against the carbon credit income. "Carbon credit" is defined as a validated reduction of one tonne of CO2 or equivalent gases recognised by the relevant United Nations framework and tradable at market price. The amendment takes effect from 1 April 2018. en-us Wed, 01 Feb 2017 17:52:24 +0530 Wed, 01 Feb 2017 17:52:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=23561 A new provision taxes income from transfer of carbon credits by aggregating: a fixed-rate tax on carbon credit income and the tax on the taxpayer's remaining income after excluding that carbon credit income. No deduction, expenditure or allowance is permitted against the carbon credit income. "Carbon credit" is defined as a validated reduction of one tonne of CO2 or equivalent gases recognised by the relevant United Nations framework and tradable at market price. The amendment takes effect from 1 April 2018. Act-Rules Bill Wed, 01 Feb 2017 17:52:24 +0530 https://www.taxtmi.com/acts?id=23561