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Book profit and mat

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 August 2011 For the purpose of MAT u/s115JB,is goodwill written off to be added back to arrive at the Book Profit?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
23 August 2011 My view, need to be add back. since Goodwill written off is not allowable expenses under Income tax

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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
23 August 2011 For MAT purpose for arriving Book Profits of business, Capital expenses or provision for diminution of in the value of asset is required to be added back in the Net Profit
as per P&L A/c

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