Mat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 July 2013
Dear sir,
If an Assessee has to Rs.1 Lakh as Income tax on the Gross total income and Rs. 2 Lakh as per MAT sec 115JB.
In this the assessee has to pay MAT.
But my doubt is if the assessee has a TDS of Rs.25000 and advance tax paid 30000.
Then is the Assessee liable to MAT Rs.2Lakh or (Rs.2,00,000-25000-30000=1,45,000).
Please clarify.
If an Assessee has to Rs.1 Lakh as Income tax on the Gross total income and Rs. 2 Lakh as per MAT sec 115JB.
In this the assessee has to pay MAT.
But my doubt is if the assessee has a TDS of Rs.25000 and advance tax paid 30000.
Then is the Assessee liable to MAT Rs.2Lakh or (Rs.2,00,000-25000-30000=1,45,000).
Please clarify.
14 August 2013
Final tax liability will be calculated by reducing the amount of TDS and advance tax from MAT.
Message likes :
1 times
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- STCG FOR GOLD ETFs
- Last year TDS Claim
- Loan by Partnership Firm
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
CAclubindia
