Who is the controller of RBI?
Who is the controller of RBI?
Reserve Bank of India
| Seal of the RBI | |
|---|---|
| Headquarters | Mumbai, Maharashtra, India |
| Governor | Shaktikanta Das, IAS |
| Central bank of | India |
| Currency | Indian rupee ( ₹ ) |
What are the goals of RBI?
The primary goals of the RBI according to the Preamble of the same are as follows. To regulate the issue of Banknotes. To secure monetary stability in the country. To meet the economic challenges by modernising the monetary policy framework.
Which is overriding effect of section 45Q of RBI Act?
Therefore, notwithstanding the provisions of section 43D of the Act, since the provisions of section 45Q of the RBI Act have an overriding effect vis-à-vis income recognition principles in the Companies Act, the Assessing Officer is bound to follow the RBI Directions so far as income recognition is concerned.
What was the original limit of the 45Q tax credit?
Section 45Q tax credits were initially limited to 75 million tonnes. The Bipartisan Budget Act of 2018, enacted on February 9, 2018, substantially modified the Section 45Q tax credit to increase over time, expanded the credit to include other carbon oxides and eliminated the previous 75 million tonne cap.
What is qualified carbon oxide in section 45Q?
In February 2018, the Bipartisan Budget Agreement (BBA) expanded the original Section 45Q credit to include “qualified carbon oxide”, which is defined as any carbon dioxide or other carbon oxide (instead of limiting the credit to only carbon dioxide), and applies to qualified facilities placed in service after the date of enactment.
What does qualified facility mean in section 45Q?
While Section 45Q provides a definition of “qualified facility,” it does not define “carbon capture equipment.”