MAT CREDIT
This query is : Resolved
20 November 2007
One of my client has credited its P&L a/c with the amount of MAT credit as per AS 22.And while computing Book profit u/s 115JB he deducted this amount from the Profit as per P&L a/c(Below the line).I require some support (case Laws etc)for the treatment done by my client while computing book profit.
20 November 2007
PLEASE REFER PARA 207.1-5a TO 5c AND THE ILLUSTARTION GIVEN BELOW 5c in section A-339 of TAXMANN'S DIRECT TAXES READY RECKONER BY DR. VINOD K SINGHANIA
(ASST YEAR 07-08& 08-09).
the support is available.
R.v.Rao
(ASST YEAR 07-08& 08-09).
the support is available.
R.v.Rao
20 November 2007
I am not talking about tretment of mat credit which is computed under income tax act.I am talking about treatment of MAT credit which is credited in P&L A?C as per AS 22.i.e is it covered with 13 adjustment of MAT CREDIT>
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