Profit on sale of Depreciable asset under MAT
This query is : Resolved
13 November 2008
Whether the profit or loss on sale of depreciable asset would be reduced or added as the case may be while calculating the Book profit under MAT
Whether we have to pay MAT on sale of Depreciable asset
Regard
Yogesh gupta
Whether we have to pay MAT on sale of Depreciable asset
Regard
Yogesh gupta
13 November 2008
No.
14 November 2008
It means we have to pay MAT on Profit on sale of Depreciable asset
14 November 2008
MAT is on book profit which is arrived at after considering profit or loss on depreciable assets as per books. Therefore it is included in the total book orofit. There is no separate MAT for profit on sale of depreciable asset.
14 November 2008
Thanks S.Srinivawaraghavan
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