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Tax Review—Direct Tax

In: Hybrid Annuity Model (HAM) of Hybrid Public-Private Partnership Projects

Author

Listed:
  • Abhinav Mittal

    (YOG INFRA Advisory Pte. Ltd.)

  • Puneet Agrawal

    (ALA Legal Advocates and Solicitors)

  • Shuchi Agrawal

Abstract

This chapter provides a detailed discussion on Section 43CB of the Indian Income Tax Act, 1961, and the applicability of the Percentage Completion method on the construction contracts. It further elaborates on the Income Computation and Disclosure Standards issued by the Central Government in terms of Section 145 of the Income Tax Act, 1961; and the Constitutional validity of ICDS considering Hon’ble Delhi High court judgment in the matter of the Chamber of Tax Consultants and others. In this Chapter the Author have also aimed to discuss the manner of recognizing revenue and computation of Income in respect of HAM based road PPP projects. Further, in this Chapter the Author have tried highlighting the possible issues that might arise under the Indian Income Tax Act and their possible solutions.

Suggested Citation

  • Abhinav Mittal & Puneet Agrawal & Shuchi Agrawal, 2023. "Tax Review—Direct Tax," Management for Professionals, in: Hybrid Annuity Model (HAM) of Hybrid Public-Private Partnership Projects, chapter 0, pages 167-198, Springer.
    • Handle: RePEc:spr:mgmchp:978-981-19-2019-6_9
    DOI: 10.1007/978-981-19-2019-6_9
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