Book profit computation under Ind AS: exclude unrealised OCI gains from distributable profits and limit MAT adjustments.
Computation of book profit for MAT on Ind AS companies requires aligning Ind AS profit presentation with distributable profits under company law and statutory MAT adjustments. Notional/unrealised gains in net other comprehensive income are to be excluded from distributable profits and managerial remuneration; MCA-listed OCI items illustrate typical exclusions. The Committee recommends no additional adjustments to Ind AS net profit (excluding OCI) beyond statutory MAT adjustments unless MCA prescribes distributable profit modifications, and sets principles for first time Ind AS adoption adjustments to retained earnings and reserves. (AI Summary)

Foreign Office Establishment Rules: procedures and eligibility for liaison, branch and project offices in India.
Establishment of foreign presence in India requires RBI permission under FEMA for Liaison Offices, Branch Offices and Project Offices via Form FNC through an AD Category I bank, considered under automatic or approval routes. RBI assesses track record and audited net worth requirements and prescribes permissible activities by office type: LOs are limited to representative and communication functions funded by inward remittances; BOs may undertake specified commercial and technical activities but cannot engage in retail trading or manufacturing unless permitted. Procedural requirements include certified incorporation documents, audited financials, UIN allotment, PAN registration, reporting, and defined closure procedures. (AI Summary)