Tax Book 2023

Oil, Natural Gas and Other Mineral Deposits Chapter- 26

40% of profit of Rs. 2 9 0,000 116 ,000

Excess 118 , 100

Income tax payable Nil

1. There is no provision for refund or c/f of royalty.


2. Tax rate and aggregate limit are specified in the concession agreement but in the absence of specific
   information we took 29 % being normal tax and 40% aggregate limit being the minimum % mentioned
   in the 5th schedule.


3. No super tax has been computed as the taxable income under section 4C is less than Rs. 150 million
   during the tax year 2023.