The total income of XYZ Ltd., a domestic company, computed under the normal provisions of income Tax Act is $ 2,50,00. However, the book profits of the company ( calculated as per section 115JB) amount to $ 8,15,000. Calculate the tax liability of company for Assessment year 2012- 13.
The total income of XYZ Ltd., a domestic company, computed under the normal provisions of income Tax Act is $ 2,50,00. However, the book profits of the company ( calculated as per section 115JB) amount to $ 8,15,000. Calculate the tax liability of company for Assessment year 2012- 13.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The total income of XYZ Ltd., a domestic company, computed under the normal provisions of income Tax Act is $ 2,50,00. However, the book profits of the company ( calculated as per section 115JB) amount to $ 8,15,000. Calculate the tax liability of company for Assessment year 2012- 13.
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