MAT & Income tax
This query is : Resolved
01 October 2010
hey frnds,
pls let me know that what to do in a case where as per ITax act & MAT, in both there is a loss .
say as per ITax- Rs.16650/-
& As per MAT calculation after all adj. book profit is Rs.8315/-.
pls also discuss other matters of Provision for Tax & differed tax...
thnks in advance...
pls let me know that what to do in a case where as per ITax act & MAT, in both there is a loss .
say as per ITax- Rs.16650/-
& As per MAT calculation after all adj. book profit is Rs.8315/-.
pls also discuss other matters of Provision for Tax & differed tax...
thnks in advance...
01 October 2010
if loss is exist as per book profit and as per income tax then no mat liability is arise
01 October 2010
sir , is that loss can be adjusted even in calculation of MAT in next year....????
01 October 2010
yes..
lower of:-
unabsorbed business loss or
unabsorbed depreciation
can be set off in computing book profits next year
lower of:-
unabsorbed business loss or
unabsorbed depreciation
can be set off in computing book profits next year
10 November 2010
i want still view over the comment of Mr. Punit Wani, if any1 can add in that , it would be more clear.
thanks to all in advance.
thanks to all in advance.
30 November 2011
ya its clear now, thanks to all...
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