Companies Act, 2013
Section - 198 - Calculation of profits
Calculation of profits.198. (1) In computing the net profits of a company in any financial year for the purpose of section 197,-
(2) In making the computation aforesaid, credit shall be given for the bounties and subsidies received from any Government, or any public authority constituted or authorised in this behalf, by any Government, unless and except in so far as the Central Government otherwise directs.(3) In making the computation aforesaid, credit shall not be given for the following sums, namely:-
| (a) | - | credit shall be given for the sums specified in sub-section (2), and credit shall not be given for those specified in sub-section (3); and |
| (b) | - | the sums specified in sub-section (4) shall be deducted, and those specified in sub-section (5) shall not be deducted. |
| (a) | - | profits, by way of premium on shares or debentures of the company, which are issued or sold by the company .... To read the full section download the app from Google Play store
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