Calculation of book profit as per income tax for mat.
This query is : Resolved
Misha Soni
(Querist)
27 November 2014
Hello All,
May I know which profit should be the starting point to calculate the Book profit for MAT, Profit after deferred tax adjustment or profit before tax?
May I know which profit should be the starting point to calculate the Book profit for MAT, Profit after deferred tax adjustment or profit before tax?
CMA Ramesh Krishnan
(Expert)
27 November 2014
It is Net profit before the deferred tax only. incase deferred tax already debited/credited then accordingly we need to add/deduct from the net profit.
Rupesh Jain
(Expert)
28 November 2014
you have to calculate the book profit according to adj given u/s 115JB
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