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MAT vs. 80-ic

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(Querist)
15 July 2009 please guide me while calculating book profit under section 115JB, is exemption amount under section 80-IC deductable from net profit?
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
15 July 2009 No Mohit. I also have came across this law very recently in a seminar of Dr. Girish Ahuja Ji. Tax is payable according to MAT even if assessee company is eligible for deduction u/s 80IC. Logic is clear that 80IC is given from 'Total Income' while MAT is totally different and you can not claim deduction u/s 80IC from MAT.
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