https://www.taxtmi.com/article/detailed?id=7857 The Bill expands taxable business income by deeming compensation or payments received in connection with termination or modification of any contract relating to a person's business chargeable under Profits and gains of business or profession; this applies to business receipts (not professional receipts) and will operate from the fiscal year following enactment, while constitutional objections that such receipts are capital in character must be pursued by direct challenge to the statute. en-us Sat, 03 Feb 2018 08:01:37 +0530 Sat, 03 Feb 2018 08:01:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7857 The Bill expands taxable business income by deeming compensation or payments received in connection with termination or modification of any contract relating to a person's business chargeable under Profits and gains of business or profession; this applies to business receipts (not professional receipts) and will operate from the fiscal year following enactment, while constitutional objections that such receipts are capital in character must be pursued by direct challenge to the statute. Articles Budget - Tax Proposals Sat, 03 Feb 2018 08:01:37 +0530 https://www.taxtmi.com/article/detailed?id=7857