https://www.taxtmi.com/acts?id=11075 The Thirteenth Schedule requires separate computation of profits for notified specified businesses by subtracting business expenditure wholly and exclusively incurred from gross income. Gross income comprises business receipts, gains on disposal of business capital assets subject to Schedule deductions, and specified statutory amounts. Business expenditure includes operating costs, permitted finance charges, licence and rental payments actually paid, land or land rights costs, capital expenditure (excluding land, goodwill and financial instruments), pre commencement expenses, and carry forward negative profits. Computations are to give full effect to prescribed allowances and depreciation, and eligibility and successor deduction rules apply. en-us Thu, 20 Aug 2009 15:37:35 +0530 Thu, 29 Oct 2009 21:24:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11075 The Thirteenth Schedule requires separate computation of profits for notified specified businesses by subtracting business expenditure wholly and exclusively incurred from gross income. Gross income comprises business receipts, gains on disposal of business capital assets subject to Schedule deductions, and specified statutory amounts. Business expenditure includes operating costs, permitted finance charges, licence and rental payments actually paid, land or land rights costs, capital expenditure (excluding land, goodwill and financial instruments), pre commencement expenses, and carry forward negative profits. Computations are to give full effect to prescribed allowances and depreciation, and eligibility and successor deduction rules apply. Act-Rules Bills Thu, 20 Aug 2009 15:37:35 +0530 https://www.taxtmi.com/acts?id=11075