https://www.taxtmi.com/news?id=19557 Amendment permits a company whose corporate insolvency resolution application has been admitted to reduce book profit under section 115JB by the aggregate of unabsorbed depreciation and loss brought forward (loss excluding unabsorbed depreciation) for MAT computation, effective 1 April 2018. A clarificatory amendment deems section 115JB inapplicable to a foreign company whose total income comprises solely profits from businesses taxed under specified presumptive provisions and offered at the prescribed rates, effective retrospectively from 1 April 2001. en-us Mon, 05 Feb 2018 11:08:04 +0530 Mon, 05 Feb 2018 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19557 Amendment permits a company whose corporate insolvency resolution application has been admitted to reduce book profit under section 115JB by the aggregate of unabsorbed depreciation and loss brought forward (loss excluding unabsorbed depreciation) for MAT computation, effective 1 April 2018. A clarificatory amendment deems section 115JB inapplicable to a foreign company whose total income comprises solely profits from businesses taxed under specified presumptive provisions and offered at the prescribed rates, effective retrospectively from 1 April 2001. News - Mon, 05 Feb 2018 11:08:04 +0530 https://www.taxtmi.com/news?id=19557