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115JB

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Framework for computation of book profit for the purposes of levy of MAT


Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income tax Act 1961 for Indian Accounting Standards Ind AS compliant companies A Committee had been constituted with the approval of the Finance Minister to suggest the framework for computation of bo

Govt invites suggestion on MAT framework for computation of book profit


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 28th April 2016 Subject Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income tax Act 1961 for Indian Accounting Standards Ind AS compliant compa

Amendment in MAT provisions for foreign company


Government Decides to Amend Income Tax Act 1961 so that with Effect from 1st April 2001 the Provisions of Section 115JB Shall Not be Applicable to a Foreign Company If the Foreign Company is a Resident of a Country Having DTAA with India and Such Foreign Company Does Not have a Permanent Establishme

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Experts Opinions

Minimum alternate tax under section 115jb


Sir Maam Please explain the above said section in detail Thanks and Regards Rupinder Singh

Applicability of sec115jb


IS THERE ANY APPLICABILITY OF THE PROVISION OF SEC 115JB IF THE COMPANY IS INCURING LOSS IN THE FY PLZ REPLY

Minimum alternative tax u/s 115jb


Hi Small clarification regarding MAT provisions if a company has sold unlisted shares earned profit but as per income tax computation we separately shown under Long term Capital gain u s 45 but capital gain point of view no tax because of indexation but as per Mat Calculation sheet what amount shoul

Section 115jb


Whether Provision for Gratuity and short term Capital loss to be considered while calculating book profit under section 115JB MAT Please explain

Section 115jb


profit on sale of rural agricultural land which is tax exempt is deducted while computing profit u s 115JB or not

Discussion

Doubt about 115jb

Hey Guys I have a query One of my client Private Limited Company has incurred losses of Rs 20 00 000 in A Y 2014 15 however in A Y 2015 16 it managed to earn profit of Rs 2 00 000 So now prevoius losses will absorb the current profit But do I need to pay the taxes u s 115JB Its quite urgent

Section 115jb not applicable to a foreign company:cbdt

CBDT on 24 09 2015 has issued a press release in which it is mentioned that Government of India has Decides to Amend Income Tax Act 1961 so that with Effect from 1st April 2001 the Provisions of Section 115JB Shall Not be Applicable to a Foreign Company If the Foreign Company is a Resident of a Coun

Mat u/s 115jb

Would there be a MAT liabililty on a trading Pvt Ltd Co which made a profit of Rs 50 Lacs in AY 2015 2016 which had made a loss of Rs 50 Lacs in AY 2014 2015 there was a total carried forward loss of Rs 75 Lacs as at end of FY 2013 2014 relevant to AY 2014 2015 had no depreciation charged in profit

Mat 115jb

WE HAVE AN AUDIT OF PRIVATE LTD CO ITS CURRENT YEAR PROFIT IS RS 373351 AS PER BOOKS OF ACCOUNT BROUGHT FORWARD LOSSES AS PER COMPANY BOOKS OF ACCOUNT RS 388586 AND UNABSORBTION DEPRECIATION IS NIL AS CO HAS NO ASSETS AS PER NORMAL PROVISION OF IT C F LOSSES CAN BE SET OFF BUT AS PER SECTION 115JB T

Applicability of form 29b u/s 115jb

Is Form 29B is mandatory to the company which has book profit but no MAT liablity arise in computation u s 115JB

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Section 115JB of the income tax act


SECTION 115JB OF INCOME TAX ACT 1961 SPECIAL PROVISION FOR PAYMENT OF TAX BY CERTAIN COMPANIES AFTER BUDGET 2016 This section is nothing but the Minimum Tax that a company is required to pay This section provides that in case the tax payable by a company is less than 18 5 of its books profit in any


Profit and Gain under presumptive basis vis-a-vis Section 115JB


As the number of zero tax companies and companies paying marginal tax had grown the Minimum Alternate Tax Provision has been inserted in the Income Tax Act It was felt that various concession given under the tax laws big corporate groups become zero tax companies to counter this as the system of MAT


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Updated on : 9/24/2016 9:03:23 PM


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