Mat

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srinivasan (Querist)
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26 September 2011 MAT Profit of the Comapany is 1,00,000. for the A.Y. 2011-12

Company have a Brought Forward Loss of300000 and B/F Depreciation of100000

Company can deduct said BF Losses and Depreciation from MAT Profit?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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26 September 2011 Explanation 1 to Section 115JB provides that the amount of loss brought forward or unabsorbed depreciation, whichever is less as per BOOKS OF ACCOUNT will be deducted while computing book profits for the purpose of MAT.

Accordingly, book loss/unabsorbed depreciation is allowed and NOTLOSS/UNABSORBED DEPRECIATION AS PER INCOME TAX.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 September 2011 For arriving book profit for the purpose of MAT, pl begin with profit as per p& l account and among the permitted deduction therefrom, the company can deduct b/f depreciation as per books or b/f business loss as per books which ever is less.

srinivasan

srinivasan (Querist)
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26 September 2011 Thanks lot Warrior & Siddartha for your kind clarification.....

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