If a company is availing deduction u/s. 80IA on profits derived from it's industrial undertaking, can it avail the same as a deduction while computing profits u/s. 115JB for the purpose of calculating tax as per MAT provisions?
Menu
Deduction u/s. 80ia available while calculating mat profit
Replies (2)
Companies claiming deduction u/s 80IA are liable to MAT and the deduction u/s 80IA cannot be reduced while calculating the Book Profit under provisions of MAT .
Regards,
Devendra K
Dear Mr. Devender,
I hold a similar view but after so many years of your post and changes in law, need a bit more clarification if can help.
What does section 115JB(5) specifically denotes if deductions can't be claimed while computing the book profit. Reproduced for your convenience:
(5) Save as otherwise provided in this section, all other provisions of this Act shall apply to every assessee, being a company, mentioned in this section.
Also, would request you to throw some light on the below judgement
"Neha Home Builders Pvt. Ltd., ... vs Cit - 13, Mumbai on 22 January, 2018".
Will be really grateful for your valuable insights.
Thanks and Regards
Recent Topics :
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
Related Topics :
CAclubindia
