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of <h1>Book Profits Redefined: MAT Calculations for Ind AS Companies Exclude Net Other Comprehensive Income with Precise Valuation Guidelines</h1> The document details a report on computing book profits for Minimum Alternate Tax (MAT) purposes for Indian Accounting Standards (Ind AS) compliant companies. The committee recommends excluding net other comprehensive income from book profit calculations, with specific guidelines for treating unrealized gains and losses. The report provides a framework for incorporating certain reserves and adjustments in MAT computations, particularly during the first-time adoption of Ind AS, to ensure consistent tax treatment.
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