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ugt: MAT

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 September 2010 whether the prior period expense/income is considered for taking Profit or loss as per P&L account for calculation of MAT? PLZ reply fast
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
09 September 2010 Prior period adjustment is necessary in terms of para 2(b) of part 11 of schedule VI. Therefore, such items have to be considered in arriving book profit.
Citation:- for 115J and not for 115JB is in 46 ITD 203 (Coch-Tri).
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