MAT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 February 2010
As per section 115JB, if TAX PAYABLE by a company ON ITS TOTAL INCOME computed as per normal provisions of income tax act is less than 15% of BOOK PROFIT then such BP shall be deemed to be the income of the company and tax shall be charged @ 15% on such BP.
Now in many celebrated books, i have found the authors saying tax shall be higher of-
a)income tax on TI(+scharge,if applicable+edu cess)
b)15% of BP(add scharge, if applicable)+ ed cess.
what would u do if TI is Rs 5000000 and BP is 10100000?
Now in many celebrated books, i have found the authors saying tax shall be higher of-
a)income tax on TI(+scharge,if applicable+edu cess)
b)15% of BP(add scharge, if applicable)+ ed cess.
what would u do if TI is Rs 5000000 and BP is 10100000?
27 February 2010
Duplication:
https://www.caclubindia.com/experts/mat-342210.asp
https://www.caclubindia.com/experts/mat-342210.asp
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