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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.... (2) They shall come into force from the date of their publication in the official Gazette. 2. In the Income-tax Rules, 1962, - (A) in rule 12, in sub-rule (2), in the proviso, after the words, figures and letters "section 115JB", the words, figures 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,_____....
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....opted by the company under the Companies Act, 2013 (18 of 2013). 6. Total income of the company under the Act. 7. Income-tax payable on total income. 8. Whether statement of profit and loss is prepared in accordance with the provisions of Schedule III to the Companies Act, 2013 (18 of 2013). Yes / No 9. Where the financial year referred to in Sl. No. 5 above is 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 laid before the company at its annual general meeting? I....
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.... Indian Accounting Standards specified in Annexure to the Companies (Indian Accounting Standards) Rules, 2015 for the previous year or any part thereof(amount from Sl. No 26 of Part B). 15. Add/(Less): Amount of adjustments as referred to in sub-section (2C) of this section 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 (amount from Sl. No 33 of Part C). 16. Add/(Less): Amount or aggregate of the amounts referred to in the sub-clauses (B) to (E) of clause (iii) of Explanation to sub-section (2C) of this section for the previous year or any of the precedi....
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....his 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-classified to profit or loss". (iii) increase on account of amounts or aggregate of amounts debited to the statement of profit and loss on distribution of non-cash assets t....
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....revious year or any part thereof] [To be filled up for the year of convergence and each of the following four previous years only] Sl. No. Particulars 27. Year of convergence as defined in clause (i) of Explanation to sub-section (2C) of this section. 28. Convergence date. 29. Amount or the aggregate of the amounts adjusted 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....