https://www.taxtmi.com/article/detailed?id=7854 An amendment permits reduction of a company's book profit by the aggregate amount of unabsorbed depreciation and loss brought forward where an application for corporate insolvency resolution process has been admitted, with the loss for this purpose excluding depreciation; the change also narrows the "books of account" reference to companies other than those covered by this insolvency carve out. A separate explanatory insertion excludes certain foreign companies with income taxed under specified presumptive provisions from the book profit levy, applied retrospectively. en-us Fri, 02 Feb 2018 13:13:34 +0530 Fri, 02 Feb 2018 13:13:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7854 An amendment permits reduction of a company's book profit by the aggregate amount of unabsorbed depreciation and loss brought forward where an application for corporate insolvency resolution process has been admitted, with the loss for this purpose excluding depreciation; the change also narrows the "books of account" reference to companies other than those covered by this insolvency carve out. A separate explanatory insertion excludes certain foreign companies with income taxed under specified presumptive provisions from the book profit levy, applied retrospectively. Articles Budget - Tax Proposals Fri, 02 Feb 2018 13:13:34 +0530 https://www.taxtmi.com/article/detailed?id=7854