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.
Message likes :
1 times
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.
Message likes :
1 times
12 October 2007
yes ravi is right
18 August 2008
correct answer
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Price inclusive or exclusive of GST while made entry in P& L Account
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- Minimum tax payable to file Updated return
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Applicability of GST on Salary Reimbursement Component
- Dep. as per companies act
- GST ISSUE OF INPUT AND OUTPUT GST
- SALARY CAN BE CAPITALIZE
- Salary from Qatar in Dollars in India
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
07 September 2026
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
08 September 2026
Semi-Qualified Assitant
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
View Details
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
ARTICLESHIP
30 September 2026
CA Article Assistant
CA Suraj Garg & Associates
New Delhi
CA Final
View Details
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
CCI
Pro
CAclubindia
