Scope of MAT
extended to cover
Income exempted under
section 10A and 10B
i.e. such income would
now be included in
computation of Book
Profits under section
115JB
Capital assets to include
personal effects like
archaeological collections,
drawings, paintings,
sculptures and any work of
art. Transfer of any such asset
to attract capital gains tax.
Deduction under section
36(1)(viii) available to
certain companies in respect
of amount transferred to a
Special Reserve to be
restricted to 20% of profits
each year.
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