section 80IC & MAT
This query is : Resolved
Iyerjayadevan
(Querist)
26 February 2010
WE HAVE A UNIT IN ROORKEE WHERE THE DEDUCTION U/S 80IC IS AVAILABLE. SO THE PROFIT EARNED GOES TAX FREE.ARE WE COVERED BY MAT PROVISIONS?PLEASE LET ME KNOW
JAYADEVAN K.N.,MUMBAI
JAYADEVAN K.N.,MUMBAI
Aditya Maheshwari
(Expert)
27 February 2010
Yes MAT will be payable on the book profits as 80IC dedcution is available while computed tax as per normal provisions but not for computing book profits u/s 115JB.
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