https://www.taxtmi.com/acts?id=23751 A specific charging and computation rule requires separate taxation of income from transfers of carbon credits by first calculating tax on that income at a prescribed flat rate and then adding the tax that would be chargeable on the assessee's remaining income after excluding the carbon credit income. No deduction or allowance is permitted in computing the taxable income attributable to such transfers. "Carbon credit" is defined as a unit equating to reduction of one tonne of CO2 or equivalent gases validated by the United Nations Framework Convention on Climate Change and tradable at market price. en-us Thu, 23 Mar 2017 15:35:49 +0530 Fri, 24 Mar 2017 12:37:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=23751 A specific charging and computation rule requires separate taxation of income from transfers of carbon credits by first calculating tax on that income at a prescribed flat rate and then adding the tax that would be chargeable on the assessee's remaining income after excluding the carbon credit income. No deduction or allowance is permitted in computing the taxable income attributable to such transfers. "Carbon credit" is defined as a unit equating to reduction of one tonne of CO2 or equivalent gases validated by the United Nations Framework Convention on Climate Change and tradable at market price. Act-Rules F. Acts / Amendment Acts Thu, 23 Mar 2017 15:35:49 +0530 https://www.taxtmi.com/acts?id=23751