https://www.taxtmi.com/manuals?id=2828 Income arising from transfer of carbon credits is taxed at a concessional flat rate of ten percent plus applicable surcharge and cess, with the balance of the assessee's income taxed at normal rates; no deduction for any expenditure or allowance is permitted in computing income from such transfers. A carbon credit is defined as a validated reduction of one tonne of carbon dioxide or equivalent gases recognised by the UNFCCC and tradable at market price. en-us Tue, 06 Jun 2023 13:17:00 +0530 Fri, 17 May 2024 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=2828 Income arising from transfer of carbon credits is taxed at a concessional flat rate of ten percent plus applicable surcharge and cess, with the balance of the assessee's income taxed at normal rates; no deduction for any expenditure or allowance is permitted in computing income from such transfers. A carbon credit is defined as a validated reduction of one tonne of carbon dioxide or equivalent gases recognised by the UNFCCC and tradable at market price. Manuals Income Tax Tue, 06 Jun 2023 13:17:00 +0530 https://www.taxtmi.com/manuals?id=2828