Computation of book profit: phase retained earnings transition adjustments over three years to reduce one time MAT impact. Computation of book profit for MAT on Ind AS adoption: retained earnings adjustments on transition for PPE and intangibles should be ignored for book profit and excluded from depreciation and disposal gain/loss calculations; lease equalization and fair value P&L transition adjustments should be included in book profit phased over three years from the year of adoption to mitigate one time impact; other unrealised gains/losses adjusted to retained earnings on transition should be similarly phased.