Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the ultimate-addons-for-gutenberg domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home3/a1636wpq/public_html/taxclick.org/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the rocket domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home3/a1636wpq/public_html/taxclick.org/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home3/a1636wpq/public_html/taxclick.org/wp-includes/functions.php on line 6114
Activity of mere display of uncut diamond inside a Special Notified Zone shall not be taxable under the provisions of the Income-tax Act - All About Finance

Activity of mere display of uncut diamond inside a Special Notified Zone shall not be taxable under the provisions of the Income-tax Act

by

Government of
India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes 

PRESS RELEASE 

New Delhi, 16th October, 2015

 

Subject:          Taxation of income from display of
rough diamonds in “Special Notified Zone”-regarding 

 A “Special Notified Zone” has been established in
the Bharat Diamond Bourse. To facilitate the participation of leading diamond
mining companies of the world in this zone, the matter of taxation of income
arising from the activity of mere display of uncut diamonds (without sorting or
sale) in the Special Notified Zone has been considered by the Government. 

It has been decided that
the activity of mere display of uncut diamond (without sorting or sale) inside a Special Notified Zone carried out on or
after 1st April, 2015 shall not be taxable under the provisions of the
Income-tax Act, 1961. Legislative amendment in this regard shall be carried out
through Finance Bill 2016.

  

(Shefali Shah)

 Pr. Commissioner of Income Tax
(OSD)

 Official Spokesperson, CBDT

 

No related posts.

Taxclick Team
This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.

Leave a Comment