Printed from www.taxmann.com FORM NO. 29B [See rule 40B] Report under section 115JB of the Income-tax Act, 1961 for computing the book profits of the company 1. I/We * have examined the accounts and records of ___________________________________________________________________(name and address of the assessee with PAN) _____________________ engaged in business of ______________________ (nature of business) in order to arrive at the book profit during the year ended on the 31st March, _____________ 2. (a) * I/We certify that the book profit has been computed in accordance with the provisions of this section. The tax payable under section 115JB of the Income-tax Act in respect of the assessment year ______________is Rs. ________________, which has been determined on the basis of the details in Annexure A to this Form. 3. In my/our * opinion and to the best of my/our * knowledge and according to the explanations given to me/us * the particulars given in the Annexure A are true and correct. Date _____________ Signed Accountant Notes: 1. *Delete whichever is not applicable. 2. This report is to be given by- (i) a Chartered accountant within the meaning of the Chartered Accountants Act, 1949 (38 of 1949); or (ii) any person, who in relation to any State, is by virtue of the provisions in sub-section (2) of section 226 of the Companies Act, 1956 (1 of 1956), entitled to be appointed to act as an auditor of companies registered in that State. 3. Where any of the matter stated in this report is answered in the negative or with a qualification, the report shall state the reasons therefor. ANNEXURE A [See paragraph 2] Details relating to the computation of Book Profits for the purposes of section 115JB of the Income-tax Act, 1961 1. Name of the assessee 2. Particulars of address 3. Permanent Account Number 4. Assessment year 5. Total income of the company under the Income-tax Act 6. Income-tax payable on total income 7. Whether Profit and Loss Account is prepared in accordance with the provisions of Parts II and III of Schedule VI to the Companies Act, 1956 (1 of 1956) Yes/No 8. Whether the Profit and Loss Account referred to in column 7 above has followed the same accounting policies, accounting standards for preparing the profit and loss account and the same method of rates for calculating depreciation as have been adopted for preparing accounts laid before the company at its annual general body meeting? If not, the extent and nature of variation be specified Yes/No 9. Net profit according to Profit and Loss Account referred to in Printed from www.taxmann.com (7) above 10. Amount of net profit as shown in Profit and Loss Account as increased by the amounts referred to in clauses (a) to (f) of Explanation to sub-section (2) of this section (file working separately, where required) 11. The amount as referred to in item 10 as reduced by the amounts referred to in clauses (i) to (vii) of Explanation of sub-section (2) of this section (file working separately, where required) 12. Book profit as computed according to Explanation given in sub-section (2) 13. 7.5% of "book profit" as computed in 12 above 14. In case income-tax payable by the company referred to at Sl. No. 6 is less than seven and one-half per cent of its book profits shown in column 12, the amount of income-tax payable by the company would be 7.5% of column 12, i.e., as per (13)
