How we calculate profit for purpose MAT?
This query is : Resolved
11 October 2007
Pls How we calculate profit for purpose MAT? also give me detail regarding disallowance of depreciation.
11 October 2007
Net profit before tax is to be considered as Book profit for MAT purpose. (Below the lines are not considered)
Meanwhile FBT is not an allowable expenditure as per IT act. However for the purpose of MAT tax u/s 115JB FBT is an allowable expenditure.
Disallowance of Depreciation will not arise for the purpose of MAT.
Meanwhile FBT is not an allowable expenditure as per IT act. However for the purpose of MAT tax u/s 115JB FBT is an allowable expenditure.
Disallowance of Depreciation will not arise for the purpose of MAT.
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11 October 2007
For the purpose of Income tax working in Profit and loss adjustment account:
From that Book profit, Co's Act Depreciation added back and IT depreciation is lessen. From that profit Income tax @ 30% is calculated.
From that Book profit, Co's Act Depreciation added back and IT depreciation is lessen. From that profit Income tax @ 30% is calculated.
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12 October 2007
yes ravi is right
18 August 2008
correct answer
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