https://www.taxtmi.com/circulars?id=10884 The Transfer of Profits to Reserves Rules require the percentage transfer to be calculated on current profits, which must be read as profits after tax. Accounting items such as the write back of a development rebate reserve and adjustments relating to previous years must be included when determining those current profits for the purpose of the mandatory reserve transfer. en-us Sat, 07 Feb 1976 00:00:00 +0530 Fri, 17 Jun 2011 15:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10884 The Transfer of Profits to Reserves Rules require the percentage transfer to be calculated on current profits, which must be read as profits after tax. Accounting items such as the write back of a development rebate reserve and adjustments relating to previous years must be included when determining those current profits for the purpose of the mandatory reserve transfer. Circulars Companies Law Sat, 07 Feb 1976 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10884