Book profit computation under Indian Accounting Standards now adjusts other comprehensive income and transition amounts for MAT. Amendment aligns book profit computation under section 115JB with Indian Accounting Standards, requiring specified increases or decreases for amounts credited or debited to other comprehensive income (OCI) that are 'items that will not be re classified to profit or loss', prescribes treatment for distribution of non cash assets on demerger, ignores post demerger revaluation changes in the resulting company for MAT computation, and mandates one fifth annual adjustments of the transition amount on convergence to Ind AS, subject to defined exclusions and catch up adjustments.