Hi,
I have a small taxation query regarding the Income Tax payable in the case as given below:
Depreciation as per books: Rs. 512,000/-
Prov. for Gratuity: Rs. Rs. 332,000/- (Gratuity paid: Nil)
Profit as per P&L (FY 09-10) after taking the above into A/c : Rs. 30,000
Depreciation as per IT (FY09-10): Rs. 400,000/-
Carried forward Business Loss - Nil
Carried forward Depreciation - Rs. 15,00,000/-
What would be the tax liability for AY 2010-11 (taking MAT into consideration).
Kindly provide calculation details.
CAclubindia
