sec.115jb MAT Applicability
This query is : Resolved
02 July 2010
Can anyone tell me
Is MAT Applicable if Co. derive
profit in year under audit which is set
off against previous losses ?
Can anyone tell me
Is MAT Applicable if Co. derive
profit in year under audit which is set
off against previous losses ?
02 July 2010
refer 115JB which clearly mentiones the deduction and addition in calculating book profit on which mat rate is applied.
Aditya Maheshwari
(Expert)
02 July 2010
Mat would be payable in such cases.
However Lower of loss as per books and unabsorbed deprecaition is allwoable for the purpose of calculating MAT u/s 115JB from book profit.
However Lower of loss as per books and unabsorbed deprecaition is allwoable for the purpose of calculating MAT u/s 115JB from book profit.
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