Deferred tax asset and mat
This query is : Resolved
27 October 2017
suposse i have profit as per books is 969827/-
deferred tax asset is 300157/-
Total Income As per IT act 1269984/-(300157/-+969827/-)
.For calculation of MAT should deferred tax asset of 300157 /- be reduced from 1269984 /- or MAT is calculated on 1269984/-...kindly answer.
deferred tax asset is 300157/-
Total Income As per IT act 1269984/-(300157/-+969827/-)
.For calculation of MAT should deferred tax asset of 300157 /- be reduced from 1269984 /- or MAT is calculated on 1269984/-...kindly answer.
27 October 2017
MAT to be calcutated on book profit and not on taxable profit i.e 969827
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