Recomputation of income: use the prescribed application to present comparative computations, tax impact and verification for recomputation. Application for recomputation under sub section (18) of section 155 is made by filing Form No. 69, which requires applicant identification, contact details and a structured comparative computation. The computation must show, with and without deduction of surcharge and cess claimed and allowed, total income or loss, deemed total income under minimum tax provisions, taxes paid or payable, tax payable on alternate figures, and balance tax to be paid, as well as impact on carry forward of losses, unabsorbed depreciation and MAT/AMT credit. A verification declaration is required, and separate forms are mandated for successor/predecessor or heir situations.
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Recomputation of income: use the prescribed application to present comparative computations, tax impact and verification for recomputation.
Application for recomputation under sub section (18) of section 155 is made by filing Form No. 69, which requires applicant identification, contact details and a structured comparative computation. The computation must show, with and without deduction of surcharge and cess claimed and allowed, total income or loss, deemed total income under minimum tax provisions, taxes paid or payable, tax payable on alternate figures, and balance tax to be paid, as well as impact on carry forward of losses, unabsorbed depreciation and MAT/AMT credit. A verification declaration is required, and separate forms are mandated for successor/predecessor or heir situations.
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