Mat
This query is : Resolved
aakash agarwal
(Querist)
06 January 2016
A company has net loss of Rs.251593/- depreciation as per Income Tax is Rs.17440/- Depreciation as per Companies Act is Rs.7108/-
i.e. (251593)+7108-17440=261925 deferred tax on it is Rs.3193/-
My question is whether mat or tax is applicable on 3193/- ??? Because in Assessment order u/s 143(1) demand is raised on 3193/- @18.5 % + education cess.
Please clarify me as soon as possible there is no previous year loss or unobserved depreciation or unusual transaction.
i.e. (251593)+7108-17440=261925 deferred tax on it is Rs.3193/-
My question is whether mat or tax is applicable on 3193/- ??? Because in Assessment order u/s 143(1) demand is raised on 3193/- @18.5 % + education cess.
Please clarify me as soon as possible there is no previous year loss or unobserved depreciation or unusual transaction.
CA. Divyansh Agarwal
(Expert)
06 January 2016
No mat and no income tax applicable DTL is not a tax rather it is method of presentation of accounta
gbalakrishnan
(Expert)
07 January 2016
you are talking about depreciation under companies Act; under what law Notice under sec 143(1) is raised on rs.3193/-@ 18.3% and education cess is not clear sir. if yr query is clear answers would be clear, sir. tks
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