Book profit
This query is : Resolved
03 July 2009
Can tax paid on the profit calculated u/s115JB be adjusted against normal Income tax - if the profit exceeds?
03 July 2009
Yes. When you are paying normal tax then tax paid under 115JB can be adjusted in the year of payment of normal tax.
05 July 2009
Yes it will be adjusted to the extent of tax payable under provisions of income tax act exceed the tax payable under section 115JB resricted to tax paid u/s 115JB earlier
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