Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
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>Certain Companies Must Pay Tax on Book Profits Under Section 115JB if Income Tax Falls Below 7.5% Threshold</h1> Section 115JB of the Income-tax Act, introduced by the Finance Act, 2000, mandates that certain companies pay tax on their book profits if the calculated income tax is less than 7.5% of these profits. Companies must prepare their profit and loss accounts according to the Companies Act, 1956 standards. Book profit is defined as net profit adjusted for specific items like income tax, reserves, provisions, and eligible deductions. Companies must provide an accountant's report certifying compliance with this section when filing tax returns. Other provisions of the Income-tax Act remain applicable unless stated otherwise in this section.
TaxTMI 
TaxTMI 
