provision for tax
This query is : Resolved
29 May 2008
company has 2 divisions.for 1 division MAT is getting attracted.
for other division regular tax is attracted.when consolidated it is attracting MAT.
In this case how to provide tax for individual divisions required for provisional balance sheet for bank loan
for other division regular tax is attracted.when consolidated it is attracting MAT.
In this case how to provide tax for individual divisions required for provisional balance sheet for bank loan
29 May 2008
MAT TAX OR REGULAR TAX WHICHEVER IS HIGHER HAS TO BE PROVIDED WHEN THE COMPANY IS CONSOLIDATED.DIVISION IS NOT SIGNIFICANT WHEN THE TAX ENTITY IS A SINGLE ASSESSING ENTITY.
R.V.RAO
R.V.RAO
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