https://www.taxtmi.com/caselaws?id=24952 Capital redemption reserve is treated as a reserve and is includible in the capital base for surtax computation, because the exclusion in the Second Schedule explanation covers only specified reserve-and-surplus items and does not remove this reserve from the computation. The article also explains that, for clause (vii) of rule 1 of the First Schedule, the exclusion is calculated as 50% of the actual donations made for section 80G purposes, since the statutory ceiling under section 80G limits only the deduction admissible and does not change the amount with reference to which deduction is allowable. en-us Wed, 22 Jun 1988 00:00:00 +0530 Sat, 23 Jan 2010 13:32:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24952 Capital redemption reserve is treated as a reserve and is includible in the capital base for surtax computation, because the exclusion in the Second Schedule explanation covers only specified reserve-and-surplus items and does not remove this reserve from the computation. The article also explains that, for clause (vii) of rule 1 of the First Schedule, the exclusion is calculated as 50% of the actual donations made for section 80G purposes, since the statutory ceiling under section 80G limits only the deduction admissible and does not change the amount with reference to which deduction is allowable. Case-Laws Income Tax Wed, 22 Jun 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24952