Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies

Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies https://www.taxtmi.com/news?id=16475 Framework sets principles for computing book profit for MAT on first-time Ind AS adoption: retained earnings adjustments arising on transition for PPE and intangibles are to be ignored for book profit and related depreciation and disposal gains/losses; retained earnings adjustments from lease transition and from fair-value-through-profit-or-loss financial instruments are to be included in book profit spread over a three-year period starting from the year of adoption. en-us Fri, 05 Aug 2016 13:17:25 +0530 Fri, 05 Aug 2016 17:03:00 +0530 TaxTMI RSS Generator Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies https://www.taxtmi.com/news?id=16475 Framework sets principles for computing book profit for MAT on first-time Ind AS adoption: retained earnings adjustments arising on transition for PPE and intangibles are to be ignored for book profit and related depreciation and disposal gains/losses; retained earnings adjustments from lease transition and from fair-value-through-profit-or-loss financial instruments are to be included in book profit spread over a three-year period starting from the year of adoption. News - Fri, 05 Aug 2016 13:17:25 +0530 https://www.taxtmi.com/news?id=16475