Slogan for mat (minimum alternate tax)

CA CS CIMA Prakash Somani (Landmark Group) (23502 Points)

19 January 2013  

Very Simple Slogan for MAT:

 

Book Profit                                         XX

Add: TRUS DEDDD                           XX

Net Profit                                            XX

Less: DR IRD LS                                  XX

Net Profit for MAT                          XX

 

Details (ADD):

T – Taxes & Cess

R – Reserves transfer

U – Uncertain liability provision

S – Subsidiary losses

 D – Deferred taxes

E – Expenditure U/s 10

D – Dividend Paid

D - Depreciation

D – Diminution amount kept separate

 

Details (Less):

D – Deferred tax amount

R – Reserve Withdrawal

 I – Income exempt U/s 10

R – Revaluation reserve withdrawal

D - Depreciation on re valued amount

 L – Lower 1) Brought forward losses 2) Unabsorbed Business Loss

S – Sick Industrial Company Profit