Calculation of mat

Should we include the book profit on sale of land for the purpose of MAT calculation under S 115JB. If so then what is the point in giving a special rate benefit @ 20% of the gain that too after deducting indexed cost?
Replies (3)

MAT is applicable only in case of companies, not for individual.

Land is in the name of the company. Now what is the stand that we take?

under normal route:

The sale proceeds of land will be taxable under head CG

under book profit route:

Tax will be calculated on book profits. so sale proceeds will be included in book profits for which we have to pay tax on that route

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