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Applicability of MAT_Min.Alternate Tax

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Querist : Anonymous

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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
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
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.
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Selvakumar Selvaraj

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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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