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Book profit calculation
whether we add interest on vat in net profit for calculation of book profit u/sec 115jb
Replies (2)
I think it sould be added in the book profit.
1). Additions to net profit: Where followings amount (form I to IX) debited to profit & loss account:- Amount of income tax paid or payable and the provision thereof. ( the word “Income Tax” includes CDT u/s 115-O, Interest under income tax act, Education Cess, Income tax and others)
No,
Only interest on income tax is to be added .
Interest relating to any other tax is not requiredto be added.
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