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Mat working

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(Querist)
17 October 2013 Whil calculating mat. We add back tax paid or provision thereof in net profit to arrive book profit. But do we need to add back interest paid on tds delay payment in net profit?
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CA Harish Shyam Choudhary

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CA Harish Shyam Choudhary (Expert)
18 October 2013 As per rules, penalty and interest is also added back to net profit to arrive at the book profit for the purpose of calculating MAT.

interest and penalty on TDS is also added back to book profit. as they are in nature of penalty for non complying (i.e. not paying the TDS before Due date)
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