Income-Tax Dept.-Mulling Tax On Carbon Credit Trade

The Income-Tax department is mulling tax on carbon credit trade, estimated to yield for the exchequer an estimated Rs 1,000 crore. The I-T department’s preliminary study has found that large companies listed on stock exchanges are not making tax provisions against the profits out of the sale of carbon credits and are putting the money thus earned in other businesses. India is the largest producer of carbon credits in the world. “The sale of carbon credits and the subse-quent payment of tax from the money earned is not strictly followed.
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