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Carbon credits to be taxable under corporate income
The Direct Taxes Code (DTC) Bill has said that dealings in carbon credit will be taxable under the new regime. The income through such transactions will attract 30 per cent corporate tax. "Though this tax can, in a way, be considered to be a damper for the industry, it (DTC Bill) has made it clear that carbon credits are a business income. Till now, there was no clarity on carbon credit taxation,"
The Direct Taxes Code (DTC) Bill has said that dealings in carbon credit will be taxable under the new regime. The income through such transactions will attract 30 per cent corporate tax. "Though this tax can, in a way, be considered to be a damper for the industry, it (DTC Bill) has made it clear that carbon credits are a business income. Till now, there was no clarity on carbon credit taxation,"
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