Hi
While calculating book profit for the purpose of MAT calculation, whether defferred tax should be adjusted ??
Whether defferred tax can be considered as provision for income tax
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Book Profit Calculation
Replies (5)
No adjustment shall be done with respect to deferred tax . Please refer section 115JB of the Income tax Act .
please explain me whether it is a provision for income tax
no its not provision
provision for deffered tax liab. should disallow,its a disputed matter no sc decision made on so it will be preferrable to dissallow
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please refer section 115JB of IT act, 1961
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