Business loss and unabsorbed depreciation
This query is : Resolved
02 November 2011
What is the difference in calculation of business loss and unabsorbed depreciation as per I.T. Act 1961 and for MAT u/s 115JB?
CA RICHA BADALIA
(Expert)
02 November 2011
Under IT b/f business loss and unabsorbed depreciation as per IT, both are set off while calculating current year's profit, in which tax is payable.(keeping in mind the set off permitted)
While under MAT b/f loss or unabsorbed depreciation as per books,whichever is less is deducted in computing book profit.
While under MAT b/f loss or unabsorbed depreciation as per books,whichever is less is deducted in computing book profit.
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05 November 2011
Business loss that we consider for MAT is before depreciation, is it the same for business loss that is carried forward for set off under I.T ACT, 1961. What is the difference in the amount we consider for both?
Dhirajlal Rambhia
(Expert)
09 July 2023
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