MAT
This query is : Resolved
09 April 2009
since MAt is paid on book profit, can we have the accreuals included to arrive at the book profit. if yes with in what period the accreuals needs to be paid
(or)
whai is the minimum perod tofor payment of accreulas As per MAT
1 Provision for Bonus
2 Provision for Leave encahment
3 provision for Gratuity
4 provision for Audit fees... etc
if we need to arrive the book profit according to the MAT, do we need to disallow any of the above provisions.
or if the same is considered as expenditure to arrive at the MAT, what is the Max timeline given to pay off the above said provision.
(or)
whai is the minimum perod tofor payment of accreulas As per MAT
1 Provision for Bonus
2 Provision for Leave encahment
3 provision for Gratuity
4 provision for Audit fees... etc
if we need to arrive the book profit according to the MAT, do we need to disallow any of the above provisions.
or if the same is considered as expenditure to arrive at the MAT, what is the Max timeline given to pay off the above said provision.
10 April 2009
can u tell me what is this accreuals?
and for mat provisions...see the following...
https://law.incometaxindia.gov.in/TaxmannDit/DispCitation/ShowCit.aspx?fn=https://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2008ITAct/section115JB.htm
and for mat provisions...see the following...
https://law.incometaxindia.gov.in/TaxmannDit/DispCitation/ShowCit.aspx?fn=https://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2008ITAct/section115JB.htm
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