section 115JB
This query is : Resolved
Pushkraj Sathe
(Querist)
07 November 2007
Whether section 115JB is applicable to a company having 100% deduction under Section 80JJA.And whether profits under sec 80JJA can be reduced from the profit as per the calculations U/s 115JB to arrive at Book Profit U/s 115JB ?
CA Nishant Kumar
(Expert)
08 November 2007
115JB is applicable to companies having 100% deduction u/s 115JB. Profits under section 80JJA cannot be reduced from profits as per the calculations u/s 115JB to arrive at book profit u/s 115JB.
CA. Raviprakash M.S
(Expert)
08 November 2007
Sec 115JB lists out the allowable deductions from net profit. the section does not allow deduction for sec 80JJA profit.
CA. RAMESH KUMAR
(Expert)
11 November 2007
Deductions u/s 115 JB will be allowed only i.r.o. specified deduction listed in section itself and the same does not allow deduction of profits u/s 80JJA.
MAT will be applicable and book profit will be caluclated including the profits u/s 80JJA.
Kind Regards
CA. Ramesh Kumar
MAT will be applicable and book profit will be caluclated including the profits u/s 80JJA.
Kind Regards
CA. Ramesh Kumar
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