Section 35

This query is : Resolved

puneet toshniwal (Querist)
Follow

29 September 2012 whether mat is applicable to section 35 of income tax act..... whether any deduction is allowable under mat in case of r&d expense (section 35) or not?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

01 October 2012 1. MAT is applicable on book profit.
2. book profit is computed by taking profit as per P&L A/c and making adjustments for certain additions and deductions.

3. While computing profit, deductions u/s 35 are availed.
Since the deductions have been availed, benefit of the same is already considered wgile computing MAT.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now