MAT CALCULATION
This query is : Resolved
19 November 2008
Dear Friends,
Kindly Clarify me the tax (mat)payable on the following.
one company has to its credit of P & L the following:
1.Consultancy Charges Received Rs. 2,00,00,000/-
2.Dividend Received 1,00,00,000.
3.Profit On Sale of Asssets 20,95,000
4.Sales 23,00,000
After taking into considerations of all expesnses the Loss is Coming to Rs.93,00,000/-
Inadmissionable expenses amounts to Rs.20,00,000/-
TDS available for the FY 2007-08 is Rs.26,85,000.
kindly tell me the amount of tax payable and refund
Kindly Clarify me the tax (mat)payable on the following.
one company has to its credit of P & L the following:
1.Consultancy Charges Received Rs. 2,00,00,000/-
2.Dividend Received 1,00,00,000.
3.Profit On Sale of Asssets 20,95,000
4.Sales 23,00,000
After taking into considerations of all expesnses the Loss is Coming to Rs.93,00,000/-
Inadmissionable expenses amounts to Rs.20,00,000/-
TDS available for the FY 2007-08 is Rs.26,85,000.
kindly tell me the amount of tax payable and refund
chetan soni
(Expert)
19 November 2008
As the book profit is negative. There is no MAT liability u/s 115JB. You need to check with taxable income & then apply the tax rates.
Ravikumar.G
(Expert)
19 November 2008
Your book profit is Negative. MAT is not applicable. But ensure the the regular tax.
26 November 2008
may i know the procedure for calculating Book Profit.
As Mentioned the taxable income comes to 2,23,00,000
As Mentioned the taxable income comes to 2,23,00,000
Dhirajlal Rambhia
(Expert)
27 June 2023
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