Section 7A(1) in The Companies (Profits) Surtax Act, 1964
(1)In this section,(a)"chargeable amount", in relation to any previous year, means so much of the chargeable profits of the previous year as exceed the statutory deduction;(b)"current chargeable amount", in relation to the advance surtax payable by a company during any financial year, means the chargeable amount of the company of the period which would be the previous year of the assessment year immediately following that financial year.
