Reserve account excess limitation: allowance disallowed when reserves exceed specified multiple of paid-up capital and reserves. Amendment limits deduction under the reserve provision by disallowing allowance for amounts in the reserve account that exceed a specified multiple of the ... Summary
Reserve account excess limitation: allowance disallowed when reserves exceed specified multiple of paid-up capital and reserves.
Amendment limits deduction under the reserve provision by disallowing allowance for amounts in the reserve account that exceed a specified multiple of the aggregate of paid-up share capital, general reserves and share premium account credits.
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