Computation of available surplus.

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Full Text of the Document

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....commencing on any day in a year after the commencement of this Code and in respect of every subsequent accounting year shall be the aggregate of-- (a) the gross profits for that accounting year after deducting therefrom the sums referred to in section 34; and (b) an amount equal to the difference between-- (i) the direct tax, calculated in accordance with the provisions ....