Change in method of depreciation
This query is : Resolved
17 November 2012
The company has changed its method of depreciation from WDV to SLM. Now surplus of deprecation of previous years is credited to profit & loss a/c as an extraordinary item. Now will this surplus will be included in Book profit for the purpose of calculation of MAT????
21 November 2012
MAT is levied on book profit. Explanation 1 to Section 115JB prescribes the method for computing book profit.
Book profit means profit as per Profit & Loss as increased and reduced by certain items.
The Explanation does not provide for reduction of surplus arising on change in method of depreciation.
Accordingly the same will be included while computing MAT.
Book profit means profit as per Profit & Loss as increased and reduced by certain items.
The Explanation does not provide for reduction of surplus arising on change in method of depreciation.
Accordingly the same will be included while computing MAT.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- TDS related Query_Liquidated Damages
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Long Term Service award taxability in hands of company
- Last year TDS Claim
- Free lancer income
- Form 27Q Correction statement taking too long to update on IT Portal
- ITR selection for salaries and capital gain less than L
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
