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Section 115jb

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(Querist)
19 May 2012 sir,
i just want to know is this is complusory for us to calculate tax as per section 115jb ? why we do so?
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Sanjay Chauhan (IFRS)

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Sanjay Chauhan (IFRS) (Expert)
19 May 2012 Section 115 JB is Minimum Alternate Tax (MAT).

As the name suggests, entity will have to pay taxes under section 115 JB if the tax calculated under normal provisions is less than MAT.

In order to avoid shortfall in tax, an entity should consider 115 jb and accordingly provide for the liability.
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