MAT - Very Urgent
This query is : Resolved
Prakash Jasani
(Querist)
05 July 2008
Dear Experts,
Whether LTCG on sale of shares & securities is taxable under the MAT or not?
pls.confirm.
I also need guidance note for MAT & computation of MAT, if anybody have pls.very urgent
Pls.reply asap.
Regards,
Prakash Jasani
Email ID: prakashjasani_56@rediffmail.com
Whether LTCG on sale of shares & securities is taxable under the MAT or not?
pls.confirm.
I also need guidance note for MAT & computation of MAT, if anybody have pls.very urgent
Pls.reply asap.
Regards,
Prakash Jasani
Email ID: prakashjasani_56@rediffmail.com
R.S.SARAVANAN
(Querist)
05 July 2008
Sir, one of my client had commenced windmill project during the year 2006-07 from april 07. He had claimed depreciation @40% instead of 80% and for the balance income after deducting the above depreciation he had paid Income tax. Whether can he claim depreciation @ 80% for the FY 2007-08 from the opening WDV or whether it is possible to file a revised return and get refund of tax paid for the year 2006-07
Satish K Sekhar.ACCA
(Expert)
05 July 2008
Yes you can file a revised return rectifying the mistake by your auditor and claim tax adjustments.
CA Anand Sarda
(Expert)
06 July 2008
Yes LTCG will form part in the calculations of book profit under MAT.
17 June 2023
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