Section 115jb
This query is : Resolved
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?
i just want to know is this is complusory for us to calculate tax as per section 115jb ? why we do so?
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.
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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