MAT U/s 115JB
This query is : Resolved
03 May 2011
ExpensesU/s14A Rule 8D will be ADDED BACK while calculating BOOK Profit for MAT calculation as per sec.115JB.
Please give the answeer along with Explanation or hint. so that it will be easy for me to make understand my seniors.
THANKING YOU
SUMIT
Please give the answeer along with Explanation or hint. so that it will be easy for me to make understand my seniors.
THANKING YOU
SUMIT
03 May 2011
RULE SAYS: Section 14A covers expenses which are incurred for earning tax-free income. So those expenses can not be allowed to be deducted as there is no tax liability on the correspondent income.
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