784/CBDT.

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..... s' exceed the statutory deduction equal to 10 per cent. of capital of the company or an amount of Rs.2 lakhs, whichever is greater. The Second Schedule to the Surtax Act lays down the mode of computing the capital of a company. 2. Rule 1 of the Second Schedule lays down that the capital of a company shall be the aggregate of the amounts as on the first day of the previous year relevant to the as .....

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..... Liabilities and Provision" in the column relating to 'Liabilities' in the form of balance-sheet given in Para I of Schedule VI to Companies Act, 1956 shall not be regarded as a reserve for the purpose of computation of capital of a company under the provisions of the Schedule. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - t .....

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