Book profit adjustments: other comprehensive income and demerger distributions alter MAT computation for companies under Indian accounting standards. Book profit for MAT is adjusted for other comprehensive income: add amounts credited and deduct amounts debited under 'Items that will not be re classified to profit or loss', except for revaluation surplus under IAS 16/38 and equity instruments at fair value through OCI under IAS 109. When such exempted assets or investments are retired, disposed or realised, book profit for the relevant year must be adjusted by the aggregate OCI amounts relatable to the asset or investment. Additionally, book profit is increased or decreased by amounts debited or credited to profit or loss on distribution of non cash assets to shareholders in a demerger under Appendix A to IAS 10.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Book profit adjustments: other comprehensive income and demerger distributions alter MAT computation for companies under Indian accounting standards.
Book profit for MAT is adjusted for other comprehensive income: add amounts credited and deduct amounts debited under "Items that will not be re classified to profit or loss", except for revaluation surplus under IAS 16/38 and equity instruments at fair value through OCI under IAS 109. When such exempted assets or investments are retired, disposed or realised, book profit for the relevant year must be adjusted by the aggregate OCI amounts relatable to the asset or investment. Additionally, book profit is increased or decreased by amounts debited or credited to profit or loss on distribution of non cash assets to shareholders in a demerger under Appendix A to IAS 10.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
