Section 115BBG of ITA, 1961 : Section 115Bbg: Tax On Income From Transfer Of Carbon Credits
ITA, 1961
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Explanation using Example
Imagine a company, GreenTech Innovations, which is engaged in developing renewable energy projects. In the process, they earn carbon credits for reducing greenhouse gas emissions. These carbon credits can then be sold to other companies that wish to offset their emissions.
In the financial year 2022-2023, GreenTech Innovations sold a batch of carbon credits and earned an income of INR 5,0...
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