Mat
This query is : Resolved
26 July 2011
Interest on income tax is deducted from the Profit&loss A/c as per Schedule VI of the Companies Act,1956, my Query is while computing MAT on Book profit, is it necessary to add back the Interest on Income Tax to the book profit?
26 July 2011
As a corollary to clause (a) of explanation [1] to section 115JB, interest on income tax has to be added to find out the 'book profit'.
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