TaxTMI 
TaxTMI 
Income-tax ( 22nd Amendment), Rules, 2017 - Substitution of Form no. 29B - Report u/s 115JB of the Income-tax Act, 1961 for computing the book profits of the company
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.... and letters "section 115JC" shall be inserted; (B) in Appendix II, for the 'Form No. 29B', the following Form shall be substituted, namely:- "FORM NO.29B [See rule 40B] Report under section 115JB of the Income-tax Act, 1961 for computing the book profits of the company 1. I/We* have examined the accounts and records of (name and address of the assessee with PAN) engaged in business of (nature of business) in order to arrive at the book profit during the year ended on the 31st March,_______. 2. I/We*certify that the book profit has been computed in accordance with the provisions of this section. The tax payable under section 115JB of the Income-tax Act in respect of the assessment year (...............) is Rs., which has been determined on the basis of the details provided in Annexure appended to this Form. 3. In my/our*opinion and....
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.... Yes / No / Not Applicable 10. Where the financial year referred to in Sl. No. 5 is not the same as the relevant previous year, whether the statement of profit and loss referred to in Sl. No. 8 above has followed the same accounting policies, accounting standards for preparing the statement of profit and loss and the same method of rates for calculating depreciation as have been adopted for preparing accounts for the respective parts of the financial year laid or to be laid before the company at its annual general meeting? If not, the extent and nature of variation be specified (attach working separately, where required). Yes / No / Not Applicable 11. Profit according to statement of profit and loss referred to in Sl. No. 8 above as adjusted by the amount or aggregate of amounts on account of variations referred to in Sl. No 9 or Sl. No. 10, as the case may be. 12. Add: Amount or aggregate of amounts referred to in clauses (a) to (k) of Explanation 1 to sub-section (2) of this section (attach working separately, where required). 13. Less: Amount or aggregate of amounts referred to in clauses (i) to (vii....
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....) of section 115JB [Applicable only where the financial statements of the company are drawn up in compliance with the Indian Accounting Standards specified in Annexure to the Companies (Indian Accounting Standards) Rules, 2015 for the previous year or any part thereof] Sl. No Particulars 21. Year of convergence as defined in clause (i) of Explanation to sub-section (2C) of this section. 22. Convergence date. 23. Total amount credited to the other comprehensive income in the statement of profit and loss. 24. Total amount debited to the other comprehensive income in the statement of profit and loss. 25. Increase or decrease referred to in sub-section (2A) of this section (i) increase on account of amounts credited to other comprehensive income under the head "Items that will not be re-classified to profit or loss". (ii) decrease on account of amounts debited to other comprehensive income under the head "Items that will not be re-classifi....
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....d in the other equity (including capital reserve and securities premium reserve). 30. To be increased or decreased by:- (i) amount or aggregate of amounts adjusted in Capital reserve. (ii) amount or aggregate of amounts adjusted in Securities premium reserve. (iii) amount or aggregate of amounts adjusted in the other comprehensive income on the convergence date which shall be subsequently reclassified to profit or loss. (iv) amount or aggregate of amounts adjusted in Revaluation surplus for assets in accordance with the Indian Accounting Standards 16 and Indian Accounting Standards 38 adjusted on the convergence date. (v) gains or losses from investment in equity instruments designated at fair value through other comprehensive income in accordance with Indian Accounting Standards 109 adjusted on the convergence date. (vi) adjustments relating to items o....