Regarding MAT Calculation
This query is : Resolved
CA AKASH SANTHALIA
(Querist)
22 June 2011
Dear Sir,
Suppose i have a Net profit Before Tax 50,00,000/-
Less: - Provision 15,45,000/-
Net profit after Tax Comes 34,55,000/-
While calculating MAT, Net profit should be taken before Tax or After Tax.
Suppose i have a Net profit Before Tax 50,00,000/-
Less: - Provision 15,45,000/-
Net profit after Tax Comes 34,55,000/-
While calculating MAT, Net profit should be taken before Tax or After Tax.
Kumar Babu.G
(Expert)
22 June 2011
While computing MAT,net profit should be taken before tax only.
CA AKASH SANTHALIA
(Querist)
22 June 2011
so sir if we take profit befor tax i.e, 50,00,000/- then do we have to add provision made i.e., 15,45,000/-
22 June 2011
No MAT is to be calculated on Rs 5000000.
Message likes :
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CA AKASH SANTHALIA
(Querist)
22 June 2011
so sir if we take profit befor tax i.e, 50,00,000/- then do we have to add provision made i.e., 15,45,000/-
CA Harish Suwalka
(Expert)
22 June 2011
hii akash.. no need to add the provisions.. Net profit as per accounts(before tax) should be taken.. o in ur case it willl be 50 lac
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