As per Section 115BBG of the Income Tax Act, where the total Income of the assessee includes any Income from the transfer of carbon credit then such income shall be taxable at a concessional rate of .......... plus cess

CS Executive · Tax Laws · PYQS · December 2023
As per Section 115BBG of the Income Tax Act, where the total Income of the assessee includes any Income from the transfer of carbon credit then such income shall be taxable at a concessional rate of .......... plus cess on such income tax.
(A) 5% on the gross amount of such income
(B) 5% on the net amount of such income
(C) 10% on the gross amount of such income
(D) 10% on the net amount of such income

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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