https://www.taxtmi.com/acts?id=46452 Amendments to the Companies (Profits) Surtax Act, 1964 increase the surtax rate and revise Schedule provisions: a First Schedule rule replaces an aggregate deduction formula with a direct expenditure deduction; the Second Schedule changes cross references, omits two clauses, inserts Rule 1A (deemed effective earlier) requiring reduction of computed capital where specified balance-sheet credits are not made or are understated, and narrows rule-based capital reductions to reductions of paid-up share capital. en-us Fri, 20 Dec 2024 11:25:46 +0530 Fri, 20 Dec 2024 11:25:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46452 Amendments to the Companies (Profits) Surtax Act, 1964 increase the surtax rate and revise Schedule provisions: a First Schedule rule replaces an aggregate deduction formula with a direct expenditure deduction; the Second Schedule changes cross references, omits two clauses, inserts Rule 1A (deemed effective earlier) requiring reduction of computed capital where specified balance-sheet credits are not made or are understated, and narrows rule-based capital reductions to reductions of paid-up share capital. Act-Rules F. Acts / Amendment Acts Fri, 20 Dec 2024 11:25:46 +0530 https://www.taxtmi.com/acts?id=46452