We've upgraded AI Search on TaxTMI with two powerful modes:
1. Basic • Quick overview summary answering your query with references• Category-wise results to explore all relevant documents on TaxTMI
2. Advanced • Includes everything in Basic • Detailed report covering: - Overview Summary - Governing Provisions [Acts, Notifications, Circulars] - Relevant Case Laws - Tariff / Classification / HSN - Expert views from TaxTMI - Practical Guidance with immediate steps and dispute strategy
• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:
Preparation of profit and loss account: companies must use prescribed accounting policies and standards when computing book profit. Companies shall prepare their profit and loss account for computing book profit in accordance with Parts II and III of Schedule VI to the Companies Act, 1956, and must use the same accounting policies, accounting standards and methods and rates of depreciation as adopted for the accounts laid at the annual general meeting. If the company's financial year under the Companies Act, 1956 differs from the financial year under this Code, those accounting policies, standards and depreciation methods and rates shall correspond to those adopted for the part of that differing financial year falling within the relevant financial year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
<h1>Preparation of profit and loss account: companies must use prescribed accounting policies and standards when computing book profit.</h1> Companies shall prepare their profit and loss account for computing book profit in accordance with Parts II and III of Schedule VI to the Companies Act, 1956, and must use the same accounting policies, accounting standards and methods and rates of depreciation as adopted for the accounts laid at the annual general meeting. If the company's financial year under the Companies Act, 1956 differs from the financial year under this Code, those accounting policies, standards and depreciation methods and rates shall correspond to those adopted for the part of that differing financial year falling within the relevant financial year.
TaxTMI 
• Category-wise results to explore all relevant documents on TaxTMI
Help Us Improve - by giving the rating with each AI Result:
TaxTMI 
TaxTMI 
