Hey Guys,
I have a query......... One of my client ( Private Limited Company) has incurred losses of Rs. 20,00,000/- in A.Y. 2014-15 however in A.Y. 2015-16 it managed to earn profit of Rs. 2,00,000/-. So now prevoius losses will absorb the current profit. But do I need to pay the taxes u/s 115JB ?
Its quite urgent...........
Need Details to calculate MAT
The profit-loss gap is big enough and with the loss around Rs. 20 Lakhs I don't think there will be any need to pay taxes under 115JB.
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CAclubindia
