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Querist : Anonymous

Querist : Anonymous (Querist)

17 September 2011 While calculating Book profit of the company,items which has not been credited and debited to profit and loss account would be considered added/deducted in book profit calculation?

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C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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18 September 2011 If anything is not debited or credited in the P & L a/c then how the same can be added or deducted.

The book profit is calculated by taking the net profit as per P & L a/c and then it is increased or reduced by the entries passed in the P & L A/c.

CA Deepak S

CA Deepak S (Expert)
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19 September 2011 The only item considered for calculating MAT which is not credited/debited to P&L Account is the amount of loss brought forward or unabsorbed depreciation, whichever is less as per books of account

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