calculation of mat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 September 2010
since 2007-08 depreciation is to be added to dtermine book profit for mat .whether depreciation as per u/s 32 will be deducted to determine book profit for mat
24 September 2010
No.. the deduction is also of the depreciation as per companies law.
Only that part of depreciation, which has been due to revaluation of any asset, need not be deducted.
So the addition will be complete depreciation
& deduction will be : total depreciation less depreciation due to revaluation of any asset.
Only that part of depreciation, which has been due to revaluation of any asset, need not be deducted.
So the addition will be complete depreciation
& deduction will be : total depreciation less depreciation due to revaluation of any asset.
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