section 115JB

This query is : Resolved

Pushkraj Sathe (Querist)
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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

CA Nishant Kumar (Expert)
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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

CA. Raviprakash M.S (Expert)
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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

CA. RAMESH KUMAR (Expert)
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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