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Section45
The Finance Act, 2017

Insertion of new section 115BBG

In force As on 09 Oct 2026

Ministry Finance Enacted 17 Apr 2017 Cited by 5 provisions

Section 45 of the Finance Act, 2017 deals with insertion of new section 115BBG. Insertion of new section 115BBG. 45. After section 115BBF of the Income-tax Act [as inserted by section 54 of the Finance Act, 2016 (28 of 2016)], the following section shall be inserted with effect from the 1st day of April, 2018, namely:— '115BBG. The Act was enacted on 17 Apr 2017.

Insertion of new section 115BBG.

45. After section 115BBF of the Income-tax Act [as inserted by section 54 of the Finance Act, 2016 (28 of 2016)], the following section shall be inserted with effect from the 1st day of April, 2018, namely:—

'115BBG. Tax on income from transfer of carbon credits.—(1) Where the total income of an assessee includes any income by way of transfer of carbon credits, the income-tax payable shall be the aggregate of—

(a)the amount of income-tax calculated on the income by way of transfer of carbon credits, at the rate of ten per cent; and
(b)the amount of income-tax with which the assessee would have been chargeable had his total income been reduced by the amount of income referred to in clause (a).

(2) Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or allowance shall be allowed to the assessee under any provision of this Act in computing his income referred to in clause (a) of sub-section (1).

Explanation.—For the purposes of this section "carbon credit" in respect of one unit shall mean reduction of one tonne of carbon dioxide emissions or emissions of its equivalent gases which is validated by the United Nations Framework on Climate Change and which can be traded in market at its prevailing market price.'.

Section 45, The Finance Act, 2017.

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. Finance Act s. 54 Insertion of new section 115BBF
  2. Income-tax Act s. 115BBF Tax on income from patent

Referred to by 5

  1. s. 22 Amendment of section 45
  2. s. 25 Amendment of section 49
  3. s. 65 Insertion of new section 194-IC
  4. s. 167 Amendment of Act 13 of 2003
  5. s. 171 Amendment of Act 12 of 2003

Questions about Section 45

What does Section 45 of the Finance Act deal with?

Section 45 of the Finance Act is headed "Insertion of new section 115BBG". Insertion of new section 115BBG. 45. After section 115BBF of the Income-tax Act [as inserted by section 54 of the Finance Act, 2016 (28 of 2016)], the following section shall be inserted with effect from the 1st day of April, 2018, namely:— '115BBG.

How do I find court cases under Section 45 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2017 45, section 45 Finance Act 2017, section 45 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 45 of the Finance Act, and has it changed?

Its own text turns on Finance Act 54 (Insertion of new section 115BBF), Income-tax Act 115BBF (Tax on income from patent), so none of them can safely be read on its own. 5 other provisions in this corpus refer back to it.

When was Section 45 of the Finance Act enacted?

Section 45 of the Finance Act, cited as Finance Act 2017 45, was enacted on 17 Apr 2017. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.