Tue, Mar 28, 2017 | updated 03:36 PM IST

CBDT announces framework for computation of book profit for MAT levy

Updated: Aug 05, 2016 13:38 IST

New Delhi, Aug.5 (ANI): A committee had been constituted, with the approval of the Finance Minister, to suggest the framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies in the year of adoption and thereafter. The Committee submitted its report dated 18th March, 2016 regarding the said framework.

According to a CBDT statement, the above report of the Committee was placed on public domain for inviting comments from general public and stakeholders. Subsequently, the comments received from the stakeholders were forwarded to the Committee for examination.

The Committee submitted its recommendations/suggestions vide report dated 23rd July, 2016 on the certain issues raised by stakeholders which are now placed on www.incometaxindia.gov.in

The stake holders and general public are requested to furnish their comments/suggestions in respect of the recommendations/suggestions made by the Committee in its interim report dated 23rd July, 2016.

The comments/suggestions may be submitted by 20th August, 2016 at the email addresses (dirtpl3@nic.in) or by post at the following address with "Computation of book profit for Ind-AS compliant companies" written on the envelope: (ANI)

New Delhi [India], Mar 28 (ANI): In pursuance with the decision of Dr. K M Cherian, Chairman and CEO of Frontier Lifeline Hospital (FLL) and Remigijus Zaliunas, Rector Professor of the Lithuanian University of Health Sciences (LSMU), a Memorandum of Understanding (MOU) has been signed between both the institutions, for promoting and reinforcing cooperation, mutual exchange of views and information, improvement of research and academic programmes and also exchange of experts and researchers.

Full Story >>

New Delhi [India], Mar 28 (ANI-NewsVoir): E. Elumalai, BSc., Student (final year, Perambur Branch, Chennai) of Chennais Amirta International Institute of Hotel Management, brought laurels to the city winning bronze medal in the Culinary Art India 2017 competition. The 12th edition of the national level competition was part of Aahar International Fair held at Pragathi Maidan, New Delhi from 6th to 11th March 2017. It was organized by India Trade Promotion Organization (ITPO) in association with Indian Culinary Forum (ICF).

Full Story >>

New Delhi [India], Mar 28 (ANI): Capillary Technologies, the leader in cloud-based OmniChannel Engagement and Commerce solutions has partnered with Exclusífe to provide comprehensive CRM solutions to retailers of all sizes in India.

Full Story >>

New Delhi [India], Mar 28 (ANI): Largest telecommunications services provider Bharti Airtel Limited on Tuesday announced the successful completion of the secondary sale of over 190 million shares of its subsidiary Bharti Infratel Limited (Bharti Infratel) representing 10.3 percent, to a consortium of funds advised by KKR and Canada Pension Plan Investment Board for a total consideration of over Rs. 6,193.9 crore (approx. USD 951.6 million), executed at a price of Rs. 325 per share.

Full Story >>

New Delhi [India], Mar 28 (ANI): Housing.com has launched a unified platform for real estate developers and partners to manage their business, 'Housing Partner'.

Full Story >>

New Delhi [India], Mar 28 (ANI): India's largest Income Tax returns e-filing and enterprise compliance service provider ClearTax on Tuesday launched its GST e-learning kit to educate the business community and make over 2.5 lakh CAs and Tax Return Preparers GST-ready and help them serve over 1 crore businesses.

Full Story >>

New Delhi [India], Mar 28 (ANI): Digital platform that connects, engages and helps sports audiences interact with each other on a real-time basis, Rooter on Tuesday announced raising of an undisclosed amount of funds from Intex, one of India's fastest growing consumer electronic goods and accessories manufacturer.

Full Story >>

New Delhi [India], Mar 28 (ANI-NewsVoir): As per a National Book Trust NCAER survey in 2009, there were 83 million Indians (13-35 age group) reading books for leisure in 2009. Reading in Hindi, Marathi, Bengali and English primarily, 46 percent of the respondents chose "knowledge enhancement" as a reason for reading books.

Full Story >>

New Delhi [India], Mar 28 (ANI-BusinessWireIndia): The Schwab Foundation for Social Entrepreneurship, a sister organization of the World Economic Forum, in partnership with the Jubilant Bhartia Foundation announces opening of entries for the annual competition Social Entrepreneur of the Year (SEOY) India Award2017.

Full Story >>

New Delhi [India], Mar 27 (ANI): Leading financial marketplace Wishfin on Monday announced developments in the company's management team with key new hires to support its expansion.

Full Story >>

New Delhi [India], Mar 27 (ANI): Bank of Baroda, India's leading public sector bank has entered into MOU with Jain Irrigation Systems Limited, with an objective to finance the Micro Irrigation systems i.e. drip and sprinkler irrigation sold by the company through the network of Bank of Baroda branches across the country.

Full Story >>

New Delhi [India], Mar 27 (ANI): The 33rd Edition of India Carpet Expo, Organized by Carpet Export Promotion Council at Pragati Maidan, New Delhi was inaugurated today with lamp lighting by Minister of Textile, Smriti Irani in the august presence of Ajay Tamta, Minister of State for Textiles and Virender Singh, Member of Parliament, Bhadohi.

Full Story >>

New Delhi [India], Mar 27 (ANI): India's top mobile balance management service app True Balance has introduced a welcomed addition of 'One-click Recharge' feature to facilitate easy phone bill payments through its platform.

Full Story >>

New Delhi [India], Mar 27 (ANI): Unveiled at the Milan Men's Fashion Week 2017, the Ducati Diavel Diesel is now available on special order at Ducati dealerships across the country. One of the most successful Ducati models in India, the Diavel has now donned an exquisite avatar, as a result of a creative collaboration between the Ducati Design Center and Andrea Rosso, Diesel Licensing Creative Director.

Full Story >>

New Delhi [India], Mar 27 (ANI): India's leading online recruitment marketplace Aasaanjobs on Monday announced the launch of its unique search and filter feature for job seekers on its platform.

Full Story >>

New Delhi [India], Mar 27 (ANI-NewsVoir): The fast moving consumer goods (FMCG) segment is the fourth largest sector in the Indian economy.

Full Story >>

New Delhi [India], Mar 27 (ANI-NewsVoir): Shardul Amarchand Mangaldas and Co. has been awarded the 'National Law Firm of the Year, 2017, India' by Chambers and Partners, the world's premium evaluator of Legal Services.

Full Story >>

New Delhi [India], Mar 27 (ANI): Lalit Dalmia has launched his brand new Collection Name Fad Paradise at Indian Showcase week. The show was opened by singer composer Arko Mukherjee and closing ceremony was done by Mohammed Morani.

Full Story >>

New Delhi [India], Mar 27 (ANI): Punjab Agri Export Corporation Ltd. (PAGREXCO) has signed an MOU for an Exclusive Alliance for Ecommerce Enablement of PAGREXCO in association with Trendybharat.com. Under this agreement, Trendybharat.com will market, promote and sell Punjab Agro's organic products across India and overseas.

Full Story >>