Central Government Act
Section 7A(1) in The Companies (Profits) Surtax Act, 1964
(1) In this section,-
" chargeable amount", in relation to any previous year, means so much of the chargeable profits of the previous year as exceed the statutory deduction;
" 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 for the assessment year immediately following that financial year.