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.
.
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