Income tax mat u/s 115jb
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 August 2013
Hello,
I have a query regarding deferred tax treatment under MAT provision.
While calculating book profit under sec 115JB deferred tax deducted or not from book profit.
I have a query regarding deferred tax treatment under MAT provision.
While calculating book profit under sec 115JB deferred tax deducted or not from book profit.
CA PARAS BAFNA
(Expert)
10 August 2013
For calculating Book Profit, if Deffered Tax (DT) amount is credited to Profit & Loss account, it should be deducted from the Net Profit.
.
Conversely , if the DT amount is debited to P&L a/c it should be added back to Net Profit.
.
.
Conversely , if the DT amount is debited to P&L a/c it should be added back to Net Profit.
.
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