https://www.taxtmi.com/acts?id=11759 Where a company's normal income tax is less than the tax on book profit, the book profit is deemed the company's total income and taxed at the rate specified in Paragraph A of the Second Schedule; book profit is computed as A + B - (C + D) where A is net profit per the profit and loss account, B comprises specified add backs (tax provisions, reserves, depreciation, deferred tax, dividends, and related items), C comprises specified credits and adjustments (including depreciation charged and certain reserve withdrawals and credits), and D is loss brought forward subject to prescribed limitations. en-us Fri, 17 Sep 2010 10:12:44 +0530 Fri, 17 Sep 2010 10:12:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11759 Where a company's normal income tax is less than the tax on book profit, the book profit is deemed the company's total income and taxed at the rate specified in Paragraph A of the Second Schedule; book profit is computed as A + B - (C + D) where A is net profit per the profit and loss account, B comprises specified add backs (tax provisions, reserves, depreciation, deferred tax, dividends, and related items), C comprises specified credits and adjustments (including depreciation charged and certain reserve withdrawals and credits), and D is loss brought forward subject to prescribed limitations. Act-Rules Bills Fri, 17 Sep 2010 10:12:44 +0530 https://www.taxtmi.com/acts?id=11759