https://www.taxtmi.com/acts?id=12720 Section 349 prescribes the method for determining a company's net profits by identifying receipts to be credited (for example, government bounties and subsidies), receipts of a capital nature and certain sale proceeds to be excluded from credit, specific working charges and financial costs (including directors' remuneration, staff bonuses, interest, repairs, depreciation and bad debts) to be deducted, and particular items (such as income tax and voluntary payments not arising from legal liability) which shall not be deducted. en-us Fri, 13 May 2011 19:18:47 +0530 Fri, 13 May 2011 19:18:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12720 Section 349 prescribes the method for determining a company's net profits by identifying receipts to be credited (for example, government bounties and subsidies), receipts of a capital nature and certain sale proceeds to be excluded from credit, specific working charges and financial costs (including directors' remuneration, staff bonuses, interest, repairs, depreciation and bad debts) to be deducted, and particular items (such as income tax and voluntary payments not arising from legal liability) which shall not be deducted. Act-Rules Companies Law Fri, 13 May 2011 19:18:47 +0530 https://www.taxtmi.com/acts?id=12720