Companies (Profits) Surtax Act, 1964
Section 15: Surtax deductible in computing distributable income under Income-tax Act
Notwithstanding anything contained in clause (i) of section 109 of the Income-tax Act, in computing the distributable income of a company for the purpose of Chapter XID of that Act, the surtax payable by the company for any assessment year shall be deductible from the total income of the company assessable for that assessment year.
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 15
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