Home List Manuals Income TaxIncome Tax - Ready ReckonerMinimum Alternate Tax (MAT) This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
Adjustment in Book Profits - Section 115JB(2C) - Income Tax - Ready Reckoner - Income TaxExtract Section 115JB(2C) - Adjustment in Book Profits [Inserted by FA, 2017 . w.e.f. 1-4-2017] For a company referred to in sub-section (2A), the book profit of the year of convergence and each of the following four previous years, shall be further increased or decreased, as the case may be, by one-fifth of the transition amount Provided that the book profit of the previous year in which the asset or investment referred to in sub-clauses (B) to (E) of clause (iii) of the Explanation is retired, disposed, realised or otherwise transferred, shall be increased or decreased, as the case may be, by the amount or the aggregate of the amounts referred to in the said sub-clauses relatable to such asset or investment Provided further that the book profit of the previous year in which the foreign operation referred to in sub-clause (F) of clause (iii) of the Explanation is disposed or otherwise transferred, shall be increased or decreased, as the case may be, by the amount or the aggregate of the amounts referred to in the said sub-clause relatable to such foreign operations.
|