115jb
This query is : Resolved
28 November 2012
Dear Professionals
What is sec 115jb in brief
thanking you
What is sec 115jb in brief
thanking you
28 November 2012
https://www.caclubindia.com/experts/section-115jb-of-income-tax-act--378515.asp
Please follow the link.
Please follow the link.
Message likes :
1 times
28 November 2012
Section 115JB deals with the provisions of
Minimum Tax which a company has to pay.
.
In spite of the fact that the company is making profits, declaring dividends, still not becomes liable to pay tax due to various tax concessions and incentives.
.
Such a company is required to pay minimum tax @ 18.5% of its book profit (which is computed in accordance with the provisions of Companies Act, and after making certain adjustment as per Income Tax Act).
.
In future credit is available against such tax when company becomes liable to pay tax at regular rates.
Minimum Tax which a company has to pay.
.
In spite of the fact that the company is making profits, declaring dividends, still not becomes liable to pay tax due to various tax concessions and incentives.
.
Such a company is required to pay minimum tax @ 18.5% of its book profit (which is computed in accordance with the provisions of Companies Act, and after making certain adjustment as per Income Tax Act).
.
In future credit is available against such tax when company becomes liable to pay tax at regular rates.
Message likes :
1 times
28 November 2012
In simple terms, every company is required to pay a tax which is higher of the two:
1. Income tax computed as per the normal provisions of the Act.
2. 18.5% of the book profits as computed u/s 115JB(1).
1. Income tax computed as per the normal provisions of the Act.
2. 18.5% of the book profits as computed u/s 115JB(1).
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
