TMI BlogMAT - Computation of Book Profits - DeductionsX X X X Extracts X X X X X X X X Extracts X X X X ..... n, credited to profit loss account, shall be reduced only if the reserve or provision was created by debiting the profit and loss account. the amount of income to which any of the provisions of section 10 (other than the provisions contained in section 10(38) thereof) or section 11 or section 12 apply, if any such amount is credited to the statement of profit and loss account; T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ial purpose vehicle to a business trust in exchange of units alloted by the trust or notional gain from change in carrying amount of such units or gain on transfer of such units, if credited to the statement of profit and loss The Amount of actual loss on transfer of units of business trust ( SP of units Cost of shares of SPV) The amount of income by way of royalty in respect of patent cha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rpose of this clause: LOSS shall not include depreciation If the amount of loss brought forward or unabsorbed depreciation is NIL, then nothing shall be deducted under this clause. the amount of profit of sick industrial company for the assessment year commencing from the assessment year relevant to the previous year in which the said company has become a sick industrial comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appointed ne directors who are nominated by the CG under section 242 of the said act. (a company shall be subsidiary of another company, if such other company holds more than half in the nominal value of equity share capital of the company) The amount of profit derived from the activities of a tonnage tax company ( Section 115VO ) NOTES: The company can carry forward losse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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