Calculation of tax after set off of previous year loss
This query is : Resolved
14 September 2012
profit for the AY 2012-13 of company is rs.333994.00 after adjustment of depreciation . loss of the AY 2011-12 as per the return filed on 28/09/2011 was rs.327089.00. what would be the tax amount for the AY 2012-13? pls. suggest.
14 September 2012
You have to pay tax after adjusting depreciation (deducting IT dep and adding co. dep from net profit)and b/f loss,provided it is eligible for set off.
14 September 2012
Yes, Last Year Need to Set Off.as Writen by RichaJi
22 September 2012
Agreed with CA.Richa but one more thing you need to check is MAT .
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