Tonnage Tax Companies Exempt from MAT Calculations Under Section 115JB, as per Sections 115V-I and 115V-O.

The book profit or loss from the activities of a tonnage tax company, as specified in sub-section (1) of section 115V-I, is excluded from the book profit calculations for the purposes of section 115JB, which pertains to the applicability of Minimum Alternate Tax (MAT). This exclusion is outlined in section 115V-O, ensuring that the financial outcomes of tonnage tax companies are not subject to MAT provisions.

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