Whether mat is applicable on agriculture income ?

This query is : Resolved

Share Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

03 August 2011 sir i want to know whether agriculture income is exempt from MAT provisions or not ?

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
Follow

04 August 2011 The act is governed by various section the section which comes first is given effect to it first. Agriculture income is under section 10 and MAT u/s qq5. Now, you decide

Querist : Anonymous

Querist : Anonymous (Querist)

05 August 2011 sir i want to know whether agriculture income is exempted while calculating book profit for MAT u/s 115JB as agriculture income is covered u/s 10 ?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

11 August 2011 While calculating Book Profit U/s 115 JB,
while making adjustments in Book Profit, exempt income has to be Deducted in case the same is credited to the P&L A/c of the Company.

So you can say that it is not a part of the book profit and the same has to be excluded.

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

nitin

sandhya.v

N.Chandrasekaran

MAHESHA RAMANNA

Akhilesh Chandra

Subscribe Now

Whether mat is applicable on agriculture income ?

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

GST CONSULTANT

CA Final

Article Assistant

Manager- Finance and Compliance

Accountant