The book profits of a company in the previous year 2013-14 computed in accordance with section 115JB are ₹60,00,000. If the total income for the same period computed as per the provisions of the Income-tax Act, 1961 is ₹
CS Professional · Advanced Tax Laws and Practice · PYQS · December 2014
The book profits of a company in the previous year 2013-14 computed in accordance with section 115JB are ₹60,00,000. If the total income for the same period computed as per the provisions of the Income-tax Act, 1961 is ₹12,00,000, calculate the tax payable by the company in the assessment year 2014-15 and also indicate whether the company is eligible for any tax credit.
Topics: Income Tax
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