Fixed assets write off debit in p & l
This query is : Resolved
12 July 2019
fixed assets write off amount debited in P&L account and assessee tax computed under MAT so we have required Book profit for computing MAT tax amount.
So my question is when we calculate book profit then fixed assets write off amount added back in book profit or not for MAT calculation.
So my question is when we calculate book profit then fixed assets write off amount added back in book profit or not for MAT calculation.
04 June 2020
At the time of MAT Calculations all abnormal debits and credits to PL will be reversed to arrive a neutral/normal status of the business operations.
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