Calculation of mat 115jb
This query is : Resolved
22 March 2012
Is there any treatment of Deferred tax while calculating MAT??
CA VENKATA RAMANA
(Expert)
22 March 2012
Book Profit” means the net profit as shown in the profit and loss account, as increased by –
a. the amount of income-tax paid or payable, and the provision therefore; or
b. the amounts carried to any reserves, by whatever name called other than a reserve specified under section 33AC; or
c. the amount or amounts set aside to provisions made for meeting liabilities, other than ascertained liabilities; or
d. the amount by way of provision for losses of subsidiary companies; or
e. the amount or amounts of dividends paid or proposed; or
f. the amount or amounts of expenditure relatable to any income to which section 10 [other than the provisions contained in section 10(38) or section 10A or section 10B or section 11 or section 12 apply;
g. the amount of depreciation;
h. the amount of deferred tax and provision therefore
i. the amount or amounts set aside as provision for diminution in the value of any asset
a. the amount of income-tax paid or payable, and the provision therefore; or
b. the amounts carried to any reserves, by whatever name called other than a reserve specified under section 33AC; or
c. the amount or amounts set aside to provisions made for meeting liabilities, other than ascertained liabilities; or
d. the amount by way of provision for losses of subsidiary companies; or
e. the amount or amounts of dividends paid or proposed; or
f. the amount or amounts of expenditure relatable to any income to which section 10 [other than the provisions contained in section 10(38) or section 10A or section 10B or section 11 or section 12 apply;
g. the amount of depreciation;
h. the amount of deferred tax and provision therefore
i. the amount or amounts set aside as provision for diminution in the value of any asset
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