https://www.taxtmi.com/circulars?id=55949 The starting point for computing book profits for Ind AS compliant companies is Profit before Other Comprehensive Income. MTM gains and losses on FVTPL recognised through profit or loss are included in book profit, and MTM losses on such instruments need not be added back under clause (i) of Explanation 1 to section 115JB(2). Transition Amount is measured using Ind AS adjustments at the opening date of the first Ind AS reporting period; it excludes proposed dividend, deferred tax on transition, provisions for doubtful debts, and share application money reclassified to Other Equity, but includes equity components of financial instruments and service concession adjustments. en-us Tue, 25 Jul 2017 00:00:00 +0530 Wed, 26 Jul 2017 10:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=55949 The starting point for computing book profits for Ind AS compliant companies is Profit before Other Comprehensive Income. MTM gains and losses on FVTPL recognised through profit or loss are included in book profit, and MTM losses on such instruments need not be added back under clause (i) of Explanation 1 to section 115JB(2). Transition Amount is measured using Ind AS adjustments at the opening date of the first Ind AS reporting period; it excludes proposed dividend, deferred tax on transition, provisions for doubtful debts, and share application money reclassified to Other Equity, but includes equity components of financial instruments and service concession adjustments. Circulars Income Tax Tue, 25 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/circulars?id=55949