provision for tax

This query is : Resolved

varalaxmi (Querist)
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29 May 2008 company has 2 divisions.for 1 division MAT is getting attracted.
for other division regular tax is attracted.when consolidated it is attracting MAT.
In this case how to provide tax for individual divisions required for provisional balance sheet for bank loan

varalaxmi

varalaxmi (Querist)
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29 May 2008 answer my query as early as possible

Deepak

Deepak (Expert)
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29 May 2008 Provide regular tax liability and attache a note on MAT.

R.V.RAO

R.V.RAO (Expert)
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29 May 2008 MAT TAX OR REGULAR TAX WHICHEVER IS HIGHER HAS TO BE PROVIDED WHEN THE COMPANY IS CONSOLIDATED.DIVISION IS NOT SIGNIFICANT WHEN THE TAX ENTITY IS A SINGLE ASSESSING ENTITY.
R.V.RAO