Direct tax
This query is : Resolved
23 January 2013
Sir, i want to know the exemptions of
sec 10(38) while calculating book profit u/s 115JB.
I mean that which income/expenses are to be added or reduced from net profit while calculating book profit u/s 115JB.
sec 10(38) while calculating book profit u/s 115JB.
I mean that which income/expenses are to be added or reduced from net profit while calculating book profit u/s 115JB.
23 January 2013
Please refer Proviso to Section 10(38).
.
The Income and expenses related with the Long Term Capital Gain as referred to in Section 10(38)are taken into account.
.
Means-if the P&L Account has already been credited by the Capital Gains amount and debited by corresponding expense, no adjustment is required to be made for computing Book Profit.
.
.
The Income and expenses related with the Long Term Capital Gain as referred to in Section 10(38)are taken into account.
.
Means-if the P&L Account has already been credited by the Capital Gains amount and debited by corresponding expense, no adjustment is required to be made for computing Book Profit.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- REGARDING ITR FILING QUESTION
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Taxation on Old jewellery sold
- Itr processing refund
- Multiple payment of self assessment tax for A Y 2025-2026
- Error in uploading Form 10BD
- PF wage ceiling
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
