Mat u/s 115jb
This query is : Resolved
Shankar Rao
(Querist)
05 October 2011
Dear all
please go through the case & let me know the mat payable for the year ending 31.03.2011
Profit before dep for 31.03.2010...36,88,100
Dep as per Co Act 51,85,061
Profit before tax (-)14,96,960
Income tax (fbt) 18,427
Provision for
Deferred tax (asset) 8,43,083
(Credited to P & L a/c)
Profit aftertax ( -) 6,72,304
Dep as per IT Act 50,14,905
Lossc/f for the year ending 31.03.2010 13,26,805
Profit before dep for 31.03.2011...65,65,505
Dep as per Co Act 48,36,356
Profit before tax 17,29,150
Provision for
Deferred tax (Liability) 5,28,404
Profit after deffered tax 12,00746
Sir please let me know Mat payable for the Year ending 31.03.2011
My doubt is
which figur should be deducted from current year profit while calculating mat for the year ending 31.03.2011
please go through the case & let me know the mat payable for the year ending 31.03.2011
Profit before dep for 31.03.2010...36,88,100
Dep as per Co Act 51,85,061
Profit before tax (-)14,96,960
Income tax (fbt) 18,427
Provision for
Deferred tax (asset) 8,43,083
(Credited to P & L a/c)
Profit aftertax ( -) 6,72,304
Dep as per IT Act 50,14,905
Lossc/f for the year ending 31.03.2010 13,26,805
Profit before dep for 31.03.2011...65,65,505
Dep as per Co Act 48,36,356
Profit before tax 17,29,150
Provision for
Deferred tax (Liability) 5,28,404
Profit after deffered tax 12,00746
Sir please let me know Mat payable for the Year ending 31.03.2011
My doubt is
which figur should be deducted from current year profit while calculating mat for the year ending 31.03.2011
07 October 2011
PBDT 6565505
Depreciation 4836356
PBT 1729150
Income Tax/ FBT 0
DTA/DTL -528404
Sub Total 1200746
Depreciation as per IT Act *
Profit as per P&L A/c 1729150
Less : Depreciation Current
Less : Adj of C/f Loss 1326805
Book Profit 402345
MAT Liability 80189
If current depreciation if any is considered then the book profit would come down accordingly
Depreciation 4836356
PBT 1729150
Income Tax/ FBT 0
DTA/DTL -528404
Sub Total 1200746
Depreciation as per IT Act *
Profit as per P&L A/c 1729150
Less : Depreciation Current
Less : Adj of C/f Loss 1326805
Book Profit 402345
MAT Liability 80189
If current depreciation if any is considered then the book profit would come down accordingly
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