Applicability of MAT if the income of a co. is exempt U/s 80
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 December 2010
Dear Sir/ maam
i wnt to know about the aplicability of MAT in case of a co. if the Income of the co is exempt u/s 80 IC
i wnt to know about the aplicability of MAT in case of a co. if the Income of the co is exempt u/s 80 IC
Aditya Maheshwari
(Expert)
09 December 2010
Deduction u/s 80IC is allowed for the pupose of computing profits taxable under normal provisions of Income Tax Act.
However for calculating book profits u/s 115JB deduction allowable under chapter VI - A is not an allowable reduction and hence the companies are liable to pay MAT on the profits deducted u/s 80IC
However for calculating book profits u/s 115JB deduction allowable under chapter VI - A is not an allowable reduction and hence the companies are liable to pay MAT on the profits deducted u/s 80IC
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
