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Forex gain on Book Profit Calculation u/s 115JB

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(Querist)
24 September 2010

Dear Sir,
Should Foreign Exchange gain be reduced from book profit in MAT Calculation u/s 115JB ?
Thanks in Advance
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
24 September 2010 As per my understanding ERV ( gain) can't be reduced while calculating the book profit as per sec 115JB. Book profit means as per companies act and according to accounting policies , standards .
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