Description:
Section 115JB contains provisions for levy of minimum alternate tax if the tax payable on the normal income is less than the tax on book profit. Book
The judiciary generally is of the opinion that capital profits are to be included in the book profits so computed.
Source:
1. www.tpcc.in
2. The Tax Referencer .Volume117. Issue No.3 17 January 2011 Page No.17.
Our comment:
Capital profits also taxable under minimum alternate tax.
