Mat
This query is : Resolved
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.
06 January 2016
No mat and no income tax applicable DTL is not a tax rather it is method of presentation of accounta
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
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Under construction property in ITR
- Gift of mutual fund units to daughter
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Building tax payment deduction in rental Income
- Reporting of STCG on Property in ITR
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
