Deferred Tax and MAT
This query is : Resolved
Arvind Gattani
(Querist)
13 December 2008
I want to know the detailed rules for calculating Deferred Tax and MAT. for eg. what to be considered in calculating deferred tax, what adjustments to be made to book profit for calculating MAT,To whom Deferred tax and MAT is applicable etc. In other words, the role of Deferred tax and MAT in taxation.
CA Tilak Raj Sharma
(Expert)
13 December 2008
Deferred Tax and MAT, both applicable in case of all Companies. For detailed caclulation of MAT please see section 115JB.
For deferred tax please see the AS 22. It is defined in detail there. https://www.icai.org/resource_file/266accounting_standards_as22new.pdf
For deferred tax please see the AS 22. It is defined in detail there. https://www.icai.org/resource_file/266accounting_standards_as22new.pdf
13 December 2008
MAT is applicable to companies only where 10% of the adjusted income exceeds tax under normal circumstances.
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