9911796707
TMI BlogSection 115JB: Book ProfitX X X X Extracts X X X X X X X X Extracts X X X X ..... Section 115JB: Book Profit X X X X Extracts X X X X X X X X Extracts X X X X ..... ion.-For the purposes of this clause,- (a) the loss shall not include depreciation; (b) the provisions of this clause shall not apply if the amount of loss brought forward or unabsorbed depreciation is nil Now My queries are: 1. What is the Loss Brought Forward here ? Is it as per Sch III of Companies Act 2013 OR as per Loss computed as per 115JB (i.e. Book Loss) ? For Example: Suppose 1st Yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r, Loss as per Sch III is ₹ 1,00,000/- and Book Loss as per 115JB is ₹ 75,000/- (because of some additions and Deletions) Now in 2nd Year, for the purpose of "Loss Brought Forward" under section 115JB, Which amount is to be taken : ₹ 1,00,000/- or ₹ 75,000/-. ?? 2. For Unabsorbed Depreciation as mentioned above, Depreciation is to be computed as per Companies Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... OR Income Tax Act ? 3. From following example, please advise Amount to be taken for loss brought forward or unabsorbed depreciation for Book Profit Computation u/s 115JB for FY 2015-16: Financial Year Profit/(Loss) as per Sch III (before Depreciation) Depreciation as per Companies Act Total Profit/(Loss) as per Sch III 2011-12 (50,000) 25,000 (75,000) 2012-13 80,000 1,00, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 000
(20,000)
2013-14
60,000
40,000
20,000
2014-15
(75,000)
35,000
(1,10,000)
Total
15,000
2,00,000
(1,85,000)
Please kindly suggest. X X X X Extracts X X X X X X X X Extracts X X X X
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