Mat
This query is : Resolved
15 November 2011
In MAT, profit from SEZ or Developers exempt.
The question is whether profit exempted is Book Profit of Profit as per Income Tax??
Anyone please reply me immediately...
The question is whether profit exempted is Book Profit of Profit as per Income Tax??
Anyone please reply me immediately...
CMA Nishad Patkar
(Expert)
17 November 2011
As per the Finance Act- 2012 the MAT will be applicable to SEZ FOR AY- 2012-13, and Hence Book Profit needs to compute as per Sec- 115JB
CMA Nishad Patkar
(Expert)
17 November 2011
For AY- 2011-12 , you need to consider the book profit as there was no MAT provision was applicable for AY- 2011-12. In other words you are exempt for computing Book profit.
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