asked a query in Experts Section 196 of the income tax act, 1961
Commented on in Articles Dear Sanchit, Reserves here means all reserves. But P&L dr balance can be adjusted upto available balance of free reserves and miscellaneous expenditure can be deducted from reserves upto avaiable secruties premium balance.
Commented on in Articles Dear Navin, Thanks for sharing it. But there is one correction to be made in applicability section. CARO, 2015 is also not applicable to Small companies as well.
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