https://www.taxtmi.com/manuals?id=1893 Finance Act, 2021 amended section 115JB to permit a company, by application, to have the assessing officer recompute book profit of past year(s) when current year book profit rises due to income included under an APA (section 92CC) or secondary adjustment (section 92CE); the AO will recompute tax, rectification time under section 154 runs four years from the end of the FY of application, relief is optional and excludes interest on refunds. Rule 10RB prescribes the MAT reduction formula (A-B)-(D-C), deeming zeros where no tax is payable, treats negative results as nil, reduces section 115JAA credit accordingly, and requires electronic claim in Form 3CEEA with specified verification and filing procedure. en-us Wed, 11 Jan 2023 14:49:00 +0530 Thu, 09 May 2024 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1893 Finance Act, 2021 amended section 115JB to permit a company, by application, to have the assessing officer recompute book profit of past year(s) when current year book profit rises due to income included under an APA (section 92CC) or secondary adjustment (section 92CE); the AO will recompute tax, rectification time under section 154 runs four years from the end of the FY of application, relief is optional and excludes interest on refunds. Rule 10RB prescribes the MAT reduction formula (A-B)-(D-C), deeming zeros where no tax is payable, treats negative results as nil, reduces section 115JAA credit accordingly, and requires electronic claim in Form 3CEEA with specified verification and filing procedure. Manuals Income Tax Wed, 11 Jan 2023 14:49:00 +0530 https://www.taxtmi.com/manuals?id=1893