Section 115jb & book loss
This query is : Resolved
CA Abhijeet K
(Querist)
06 August 2012
Private Limited Company has Rs.4.50 lacs as book loss. Depreciation is 2 lacs as per Companies Act.
No unabsorbed depreciation of earlier years as per books & also no brought forward loss from earlier years.
While calculating MAT Rs.2 Lacs depreciation will be added & deducted. Other addition & deletion in Section 115JB calculations not applicable.
Ultimately book loss of Rs.4.5 remains the same.
Please guide whether MAT liability willcome or not.
Thanks
Abhijeet.
No unabsorbed depreciation of earlier years as per books & also no brought forward loss from earlier years.
While calculating MAT Rs.2 Lacs depreciation will be added & deducted. Other addition & deletion in Section 115JB calculations not applicable.
Ultimately book loss of Rs.4.5 remains the same.
Please guide whether MAT liability willcome or not.
Thanks
Abhijeet.
06 August 2012
Since there is a loss u/s 115JB, MAT will NOT be payable.
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