Query about MAT115JB
This query is : Resolved
09 July 2008
Will we Deducte provision for deferred tax & Provision for FBT from Book Profit when we calculate MAT115JB
09 July 2008
Dear Ritesh, for A/Y 2009-10, for the purpose of computation of book profits as per Expl. 1 to Sec. 115JB, we shall first increase the profit/loss as per P&L a/c by the amount of Deferred tax or provision for Deferred tax debited to P&L a/c & subsequently deduct the amount of Deferred tax credited to P&L a/c. The intent of the law is to tax the balance amount of deferred tax not credited to p&L a/c. The provision for FBT is, however, allowable while computing Book Profit for the purpose of MAT vide Q.No. 103 of Circular No. 8/2005 dated 29-8-2005. So, it will neither be added nor subsequently deducted from the profit/loss as per P&L a/c.
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
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- ITDS U/S.194T of Firm
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- TDS ON EMAIL DOMAIN SERVICE BILL
- 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
