Mat u/s 115jb
This query is : Resolved
02 October 2012
if we could not charge depreciation in the previous year under companies act and now we want to claim the depreciation of both the year i.e. 2010-11 and 2011-12 now we want ask that whether we can claim depreciation for both the year for the purpose of calculation of book profit for MAT calculation.please refer link also for the same
02 October 2012
Yes...In that case, companies act and accounting standard both allows prior period expense to be debited to profit & loss account.
MAT u/s Section 115JB is charged on book profit which is to be computed as per schedule VI and does also allow prior period expense as deduction then you can very well claim the expenditure u/s 115JB.
MAT u/s Section 115JB is charged on book profit which is to be computed as per schedule VI and does also allow prior period expense as deduction then you can very well claim the expenditure u/s 115JB.
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