For calculating business loss for MAT, we have to take Profit before Depreciation only or we shall take Profit before Depreciation and All Taxes, like current year tax provision and Deferred Tax.
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Calculation of business loss for mat
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As per Explanation 1 to Sec 115JB for computing Book Profit, Net profit should be taken "Net Profit Before Tax"
Means Tax paid or provided (provision) is disallowed for MAT
And for depreciation,
only depreciation on revalued amount of Fixed Asset is disallowed,
depreciation other than on revalued amount of fixed assets, computed as per companies is allowed for MAT
Means Tax paid or provided (provision) is disallowed for MAT
And for depreciation,
only depreciation on revalued amount of Fixed Asset is disallowed,
depreciation other than on revalued amount of fixed assets, computed as per companies is allowed for MAT
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