Book profit under
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 October 2011
plz tell the computation of book profit under MAT
21 October 2011
NET PROFIT SHOWN IN P/L A/C AS INCREASED BY FOLLOWING-:
1. THE AMOUNT OF INCOME TAX PAID/PAYABLE & PROVISIONS
2. THE AMOUNTS CARRIED TO ANY RESERVES.
3. THE AMOUNT/PROVISIONS FOR MEETING LIABLITIES OTHER THAN ASCERTAINED LIABILITIES.
4 THE AMOUNT FOR THE PROVISIONS OF SUBSIDIARY
5 THE AMOUNTS PAID /PAYABLE FOR DIVIDEND
6. THE AMOUNT WHICH IS RELATABLE TO ANY INCOME TO WHICH SEC 10(OTHER THAN SEC 10(38) OR 10AA OR 111 AND 12 APPLY
7.. THE AMOUNT OF DEP.
8. THE AMOUNT OF DEFFERED TAX & PROVISIONS
9. THE PROVISION FOR DIMINUTION OF VALUE OF ANY ASSET.
THE TOTAL OF ABOVE REDUCED BY
1. THE AMOUNT WITHDRAWN FROM ANY RESERVES IF ANY SUCH AMOUNT CREDIT TO P/L
2.THE AMOUNT OF INCOME SEC 10,10AA.11 AND 12 IF CREDITED TO P/L
3. THE AMOUNT OF DEP.
4 THE AMOUNT WITHDRAWN FROM REVALUTION RESERVE
5 THE AMOUNT OF LOSS BROUGHT FORWARD OR UNABSORBED DEP...WHICHEVER IS LESS AS PER BOOKS OF ACCOUNT
6. THE AMOUNT OF DEFFERED TAX IF SUCH AMOUNT CREDITED
1. THE AMOUNT OF INCOME TAX PAID/PAYABLE & PROVISIONS
2. THE AMOUNTS CARRIED TO ANY RESERVES.
3. THE AMOUNT/PROVISIONS FOR MEETING LIABLITIES OTHER THAN ASCERTAINED LIABILITIES.
4 THE AMOUNT FOR THE PROVISIONS OF SUBSIDIARY
5 THE AMOUNTS PAID /PAYABLE FOR DIVIDEND
6. THE AMOUNT WHICH IS RELATABLE TO ANY INCOME TO WHICH SEC 10(OTHER THAN SEC 10(38) OR 10AA OR 111 AND 12 APPLY
7.. THE AMOUNT OF DEP.
8. THE AMOUNT OF DEFFERED TAX & PROVISIONS
9. THE PROVISION FOR DIMINUTION OF VALUE OF ANY ASSET.
THE TOTAL OF ABOVE REDUCED BY
1. THE AMOUNT WITHDRAWN FROM ANY RESERVES IF ANY SUCH AMOUNT CREDIT TO P/L
2.THE AMOUNT OF INCOME SEC 10,10AA.11 AND 12 IF CREDITED TO P/L
3. THE AMOUNT OF DEP.
4 THE AMOUNT WITHDRAWN FROM REVALUTION RESERVE
5 THE AMOUNT OF LOSS BROUGHT FORWARD OR UNABSORBED DEP...WHICHEVER IS LESS AS PER BOOKS OF ACCOUNT
6. THE AMOUNT OF DEFFERED TAX IF SUCH AMOUNT CREDITED
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 October 2011
if i m company had loss previous year but current they earn profit before tax of RS 80 lacs
whether they pay MAT or not
whether they pay MAT or not
22 October 2011
Since you have profit during the current year, you will have to pay tax.
The tax to be paid shall be higher of the following:
Income tax computed as per the normal provisions of the Income Tax Act, or
MAT as per Section 115JB.
The tax to be paid shall be higher of the following:
Income tax computed as per the normal provisions of the Income Tax Act, or
MAT as per Section 115JB.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- EPF ECR NEW RULES Sep 17th 2026
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
