Income tax on the income from the transfer of Carbon Credit under section 115BG of Income Tax, 1961 derived/earned during the previous year 2017-18 shall be taxable :

CS Executive · Tax Laws and Practice · PYQS · December 2018
Income tax on the income from the transfer of Carbon Credit under section 115BG of Income Tax, 1961 derived/earned during the previous year 2017-18 shall be taxable :
(A) At normal rate of tax
(B) At concessional rate of 10% only
(C) At concessional rate of 10% (+SC+EC+SHEC)
(D) At 20% of concessional rate

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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