TMI BlogIncome-tax ( 22nd Amendment), Rules, 2017 - Substitution of Form no. 29B - Report u/s 115JB of the Income-tax Act, 1961 for computing the book profits of the companyX X X X Extracts X X X X X X X X Extracts X X X X ..... ng Form shall be substituted, namely:- FORM NO.29B [See rule 40B] Report under section 115JB of the Income-tax Act, 1961 for computing the book profits of the company 1. I/We* have examined the accounts and records of (name and address of the assessee with PAN) engaged in business of (nature of business) in order to arrive at the book profit during the year ended on the 31st March,_______. 2. I/We*certify that the book profit has been computed in accordance with the provisions of this section. The tax payable under section 115JB of the Income-tax Act in respect of the assessment year ( ) is Rs., which has been determined on the basis of the details provided in Annexure appended to this Form. 3. In my/our*opinion and to the best of my/our* knowledge and according to the explanations given to me/us* the particulars given in the Annexure are true and correct. Place: Date: (Signature and Stamp/Seal of the Accountant) Name of the Signatory: Full Address: Membership No: 1. *Delete whichever is not applicable. 2. This report is to be given by a chartered acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10. Where the financial year referred to in Sl. No. 5 is not the same as the relevant previous year, whether the statement of profit and loss referred to in Sl. No. 8 above has followed the same accounting policies, accounting standards for preparing the statement of profit and loss and the same method of rates for calculating depreciation as have been adopted for preparing accounts for the respective parts of the financial year laid or to be laid before the company at its annual general meeting? If not, the extent and nature of variation be specified (attach working separately, where required). Yes / No / Not Applicable 11. Profit according to statement of profit and loss referred to in Sl. No. 8 above as adjusted by the amount or aggregate of amounts on account of variations referred to in Sl. No 9 or Sl. No. 10, as the case may be. 12. Add: Amount or aggregate of amounts referred to in clauses (a) to (k) of Explanation 1 to sub-section (2) of this section (attach working separately, where required). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In case income-tax payable by the company referred to at Sl. No. 7 is less than 18.5 per cent of its book profits shown in Sl. No. 18, the amount of income-tax payable by the company would be 18.5 per cent of Sl. No. 18, i.e., as per Sl. No 19. Part B Details of the amount required to be increased or decreased in accordance with sub-section (2A) of section 115JB [Applicable only where the financial statements of the company are drawn up in compliance with the Indian Accounting Standards specified in Annexure to the Companies (Indian Accounting Standards) Rules, 2015 for the previous year or any part thereof] Sl. No Particulars 21. Year of convergence as defined in clause (i) of Explanation to sub-section (2C) of this section. 22. Convergence date. 23. Total amount credited to the other comprehensive income in the statement of profit and loss. 24. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... required to be increased or decreased in accordance with sub-section (2C) of section 115JB [Applicable only where the financial statements of the company are drawn up in compliance with the Indian Accounting Standards specified in Annexure to the Companies (Indian Accounting Standards) Rules, 2015 for the previous year or any part thereof] [To be filled up for the year of convergence and each of the following four previous years only] Sl. No. Particulars 27. Year of convergence as defined in clause (i) of Explanation to sub-section (2C) of this section. 28. Convergence date. 29. Amount or the aggregate of the amounts adjusted in the other equity (including capital reserve and securities premium reserve). 30. To be increased or decreased by:- (i) amount or aggr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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