Minimum Alternate Tax as per section 115JB

lalitahuja (chartered accountant) (23 Points)

24 November 2021  

1.   Is Minimum Alternate Tax as per section 115JB is applicable on profit on sale of Fixed assets of  the company ?

2. Normal Tax is  not applicable due to Long term capital loss on such assets. In earlier year ,there  were business losses in both  as per Company Act and Income Tax Act.