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>Company pays minimum alternate tax when income below thirty percent of book profit under Section 115JA</h1> Section 115JA of the Income Tax Act, 1961 establishes minimum alternate tax provisions for companies. When a company's computed total income falls below thirty percent of its book profit for assessment years 1997-2001, the taxable income is deemed to be thirty percent of book profit. Companies must prepare profit and loss accounts per Companies Act requirements with specific depreciation calculations. Book profit is defined as net profit adjusted by adding back income tax, reserves, provisions, subsidiary losses, dividends, and certain expenditures, while reducing by amounts withdrawn from reserves, exempt income, brought forward losses, and profits from specified industrial undertakings and infrastructure facilities.
TaxTMI 
TaxTMI 
