Arriving Book profit for MAT Calculation
This query is : Resolved
Shankar Rao
(Querist)
07 October 2009
Dear all
Whether provision for gratuity added back to profit after tax to calculate MAT u/s 115JB of IT Act. Kindly clarify
Thanking you
Whether provision for gratuity added back to profit after tax to calculate MAT u/s 115JB of IT Act. Kindly clarify
Thanking you
sunny bansal
(Expert)
07 October 2009
hello mr.shankar ravi
As per provosion of sec115jb of income tax act,first we take profit as per profit & loss accounts prepared as per schedule vi and then add back provision for gratuity if it is not on acturial basis & other items as mentioned in act to arrive at book profit to calculate mat.
As per provosion of sec115jb of income tax act,first we take profit as per profit & loss accounts prepared as per schedule vi and then add back provision for gratuity if it is not on acturial basis & other items as mentioned in act to arrive at book profit to calculate mat.
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