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Tax saving on ltcg

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(Querist)
16 December 2013 If a company sold a land & a long term capital gain of Rs. 40 Lacs arises.
How can a company save tax on it.
Income tax & MAT both?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
16 December 2013 The company can Save Income Tax by investing the Capital Gains in Capital gain Bonds U/s 54EC.
.
MAT is levied as per Book Profit and decided on the basis of P&L A/c of the company -
so planning for saving MAT in this case is not possible.
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