TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Income Tax Act Section 115JB Amended: Changes Align with Companies Act 2013, Address Book Profits and Indian Accounting Standards.</h1> Section 115JB of the Income-tax Act was amended to align with the Companies Act, 2013, replacing references to the Companies Act, 1956. The term 'profit and loss account' was changed to 'statement of profit and loss.' New sub-sections were added for companies using Indian Accounting Standards, detailing adjustments to book profits based on comprehensive income and asset distribution. The amendments also address the treatment of book profits for companies undergoing demergers and those transitioning to Indian Accounting Standards, specifying adjustments related to revaluation surpluses, investments, and foreign operations.
TaxTMI 
TaxTMI 
