Arriving Book profit for MAT Calculation
This query is : Resolved
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
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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