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Explanation 1 to Section 115JB – A Clause-By-Clause Analysis Of Book Profit Adjustments
1. INTRODUCTION: THE ARCHITECTURE OF BOOK PROFIT What is Explanation 1? Explanation 1 to Section 115JB(2) is the rulebook for computing book profit. It specifies, with surgical pre
Minimum Alternate Tax (MAT) Demystified – Book Profit vs. Taxable Income Explained
1. INTRODUCTION: THE TWIN TAX PROBLEM The Scenario That Started It All Imagine it’s the year 1997. You’re a wealthy Indian businessman running a successful manufacturin
