Deferred tax
This query is : Resolved
CA. Mala Rohara
(Querist)
12 June 2012
Please let me know below calculation is correct or not?
Depreciation as per IT : 24,565,093
Depreciation as per Co.:15,873,278
Then :
Deferred tax = 24,565,093 - 15,873,278
= 8691815 * 30% + Cess 3%
= 26 85 771
Tax as per MAT : 3,243,523
Tax at normal rate : 2,444,208
Then :
MAT Credit Entitlement=3,243,523-2,444,208
= 799,315
Is SC & Cess will be added to MAT?
Depreciation as per IT : 24,565,093
Depreciation as per Co.:15,873,278
Then :
Deferred tax = 24,565,093 - 15,873,278
= 8691815 * 30% + Cess 3%
= 26 85 771
Tax as per MAT : 3,243,523
Tax at normal rate : 2,444,208
Then :
MAT Credit Entitlement=3,243,523-2,444,208
= 799,315
Is SC & Cess will be added to MAT?
jegannath G
(Expert)
12 June 2012
yes you need to add SC & Scess for MAT
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