The provisions of Section 115JB provide for levy of MAT on basis of "book profits", i.e., the profit disclosed in profit and loss account prepared in accordance with provisions of The Companies Act.
Finance Act 2015, inserted, w.e.f. 01.06.2015, clause (ha) in sub-section 2 of Section 295. It enables the Board, subject to the control of Central Government, by a notification in the Gazette of India
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AS 22 Accounting for Taxes on Income. Accounting Standard means the standard of accounting: ... The extent of impact on accounts is not ascertained. ...
Recent Controversies in Income Tax By CA. Kapil Goel FCA LLB Advocate (Delhi High Court) 9910272806 advocatekapilgoel@gmail.com What is contained for discussion in ...