Mat calculation
This query is : Resolved
20 September 2011
Do we have to deduct dividend income from book profit while calculating MAT?
20 September 2011
yes, dividend income will be less from book profit
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20 September 2011
As per Explanation 1 to Section 115JB, any income exempt under Section 10 except u/s 10(38) shall be deducted while computing book profits, IF IT HAS BEEN CREDITED TO THE P&L ACCOUNT.
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