- 20 Marks
OGMT – Aug 2020 – L1 – Q2 – Ring Fencing
Explain Ring Fencing and its provisions under the Income Tax Act for mining operations.
Question
(a). Explain briefly the concept of Ring Fencing and state how it is provided for in respect of Minerals and Mining Operations under the Income Tax Act, 2015 (Act 896).
(b). Write short notes on Additional Participating Interest and Additional Oil Entitlement.
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