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115JB Income tax

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(Querist)
16 July 2008 hii
wen is section 115JB applicable to a company??????????
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
17 July 2008 In case the tax payable by a company on the total income computed for an Assessment year is less than 10% of the book profits then the tax paybale will be 10% of such book proft and as such section 115JB becomes applicable.
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CA. Sahendra Jaiswar

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CA. Sahendra Jaiswar (Expert)
17 July 2008 When the company is not making profit or making less profit and it's tax liability is less than 10% of the book profit, then the Section 115JB i.e. MAT is applicable and at least 10% including Surcharge, Education cess and Secondary Education Cess is payable.
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