Sec 80ib

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 August 2011 A housing Project under Sec. 80IB(10) is fully exempted from tax liability, than is that company required to pay tax under the provision of MAT or is exempted from the provision of Sec 115JB also. Please reply urgently.

23 August 2011 It is not exempt.
MAT provisions will apply and tax calculated on Book Profit will decide the Minimum Alternate tax liability.

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 August 2011 Thank You Sir


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