Applicability of MAT_Min.Alternate Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 January 2011
Can anybody say, a pvt ltd comp.having no oprations during the 3 yrs i.e.inoperative,in case loans taken/creditors written off will be computed as deemed proifts u/s 115jb.There is no intetion to cont.business.
Thanksss Advance
Thanksss Advance
29 January 2011
Since in IT there is no space for intention. As per Act you have to file IT return every year,and all the income as per IT provision has to be mentioned.
Selvakumar Selvaraj
(Expert)
31 January 2011
When you have profit in the books of accounts which is prepared as per Companies Act, Schedule VI, the company is subject to section 115JB-MAT.
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