Calculation of 115jb
This query is : Resolved
Yajuvendra Rawat
(Querist)
30 September 2012
Dear Sirs & Friends,
Ours is a Co-Operative society having Rs. 51,000/- as net profit during F.Y.11-12. Please help me to calculate Income Tax U/s 115JB, and also let me know the amount calculated.
Best Regards,
Yajuvendra Rawat
Ours is a Co-Operative society having Rs. 51,000/- as net profit during F.Y.11-12. Please help me to calculate Income Tax U/s 115JB, and also let me know the amount calculated.
Best Regards,
Yajuvendra Rawat
CA Suresh Jain
(Expert)
30 September 2012
section 115jb of income tax is applicable to Companies only and not to any other person/assessee including Co-operative society
Pankaj Gupta
(Expert)
30 September 2012
Yes I agree with mr suresh. MAT provisions are applicable to companies only and will not apply in your case.
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