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

Clarification for exempt income can it be treated 115jb


kindly advise can exempt income from sale of agri land can be treated and calculated under 115JB

Provision for bad debts and book profit u/s 115jb


While calculating book profit u s 115JB should provision for bad and doubtful debts be added back to profit as per explaination 1 g to section 115JB 2 i e the amount amounts set aside as provision for diminution in the value of any asset In case of yes please quote relevant case law in case of no pl

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

Discussion

Waiver of term loan - credit directly to capital reserve to avoid being included in book profit u/s 115jb

Hi Can anyone suggest if waiver of loan for capital assets can be directly credited to capital reserve to avoid being part of book profit u s 115JB Regards CA Deepak Nagori

Mat profit u/s 115jb & diallowance u/s 40(a)(ia)

In thenormal income tax calculation expenses are disallowed u s 40 a ia if TDS have not been deducted from such expesnes While calculating profit U s 115JB MAT shall such expenses be disallowed also

Section 115jb: book profit

Dear Friends Under Section 115JB of IT Act 1961 in order to Compute Book Profit the following is to be reduced from Profit Loss as per Companies Act 2013 i the amount of loss brought forward or unabsorbed depreciation whichever is less as per books of account Explanation For the purposes of this cla

Provision for bad debts and book profit u/s 115jb

While calculating book profit u s 115JB should provision for bad and doubtful debtsbe added back to profit as per explaination1 g to section 115JB 2 i e the amount amounts set aside as provision for diminution in the value of any asset In case of yes please quote relevant case law in case of no plea

115jb prior period

Whether prior period income is to be included for the purpose of book profit under section 115JB or is it deductable for calculation of book profit

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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 : 3/24/2017 3:05:11 PM


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