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115 JB - MAT

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07 July 2008 As per 115 JB, While calculating profits for MAT, c/f depreciation loss or c/f business loss whichever is lower should be reduced. It is also given that these are as per books of accounts.
Does that mean as per the profit and loss account or as per Income tax? Because how can we find the c/f depreciation lossess as per books of accounts? Usually we do not differentiate between business loss and depreciation loss in books of accounts. So how do we find it out.
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CA Anand Sarda

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CA Anand Sarda (Expert)
08 July 2008 It is as per books of accounts. we dont differentiate in accounts. but for the purpose of MAT we have to do that.
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