Computation of available surplus.

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..... g year shall be the gross profits for that year after deducting therefrom the sums referred to in section 34: Provided that the available surplus in respect of the accounting year commencing on any .....

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..... qual to the gross profits of the employer for the immediately preceding accounting year; and (ii) the direct tax, calculated in accordance with provisions of section 35, in respect of an amount equa .....

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