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MAT - Very Urgent

This query is : Resolved 
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(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
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(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
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Satish K Sekhar.ACCA

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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.
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CA Anand Sarda

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CA Anand Sarda (Expert)
06 July 2008 Yes LTCG will form part in the calculations of book profit under MAT.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
17 June 2023 "Sorry, I am not a featured member."

For featured members contact....

https://www.caclubindia.com/catalogue/featured.asp
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