14 October 2009
I'd like to know whether we are required to deduct deferred tax liability from Book profit and thereafter go about in calculation of MAT? In my reckoner, it's given that to the book profits, you'll have to add Amount of depreciation(from AY 2007-08) and subtract amount of depreciation debitted to P & L Account. Can someone throw more light on this. Thanks to one and all visiting the thread.
14 October 2009
Please be clear/precise. I cant understand a word. I'm new to Income tax, so please be as clear as possible. Nevertheless, thank you for taking time out and replying.
CAclubindia
