MINIMUM ALTERNATIVE TAX U/S 115 J
This query is : Resolved
20 January 2009
Dear Sir,
A Priavate Limited Company has business income is 0, But in the mean time There is a Short terms Capital Gain of Rs. 3,00,000/- and Long Terms Capital Gain is Rs. 12,00,000/-. All STCG and LTCG are from Investment in shares.
While calcualing the tax. The company is liable for MAT U/S 115J of Income tax Act,
Please suggest us
A Priavate Limited Company has business income is 0, But in the mean time There is a Short terms Capital Gain of Rs. 3,00,000/- and Long Terms Capital Gain is Rs. 12,00,000/-. All STCG and LTCG are from Investment in shares.
While calcualing the tax. The company is liable for MAT U/S 115J of Income tax Act,
Please suggest us
21 January 2009
Hello Ajay,
As per the given facts, First calculate the MAT u/s 115JB not u/s 115J,
then,
Higher of MAT calculated u/s 115 JB or tax payable under normal provisions,
shall be tax liability of the company.
As per the given facts, First calculate the MAT u/s 115JB not u/s 115J,
then,
Higher of MAT calculated u/s 115 JB or tax payable under normal provisions,
shall be tax liability of the company.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- Journal entry of busniess expenses
- LIC maturity claim whether taxable
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
