Mat calculation
This query is : Resolved
Ashish Sharma
(Querist)
20 September 2011
Do we have to deduct dividend income from book profit while calculating MAT?
CA Navin Jain
(Expert)
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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