Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Exclusion of tonnage tax company book profit from book profit computations limits applicability of minimum tax provisions under income tax law. The book profit or loss attributable to activities of a tonnage tax company shall be excluded from the company's book profit for purposes of applying book profit based tax provisions, thereby subjecting tonnage income to its specialised computation rather than general book profit calculations.
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.
Exclusion of tonnage tax company book profit from book profit computations limits applicability of minimum tax provisions under income tax law.
The book profit or loss attributable to activities of a tonnage tax company shall be excluded from the company's book profit for purposes of applying book profit based tax provisions, thereby subjecting tonnage income to its specialised computation rather than general book profit calculations.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.