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Form 29B under Income tax act
in case of loss in company form 29b is applicable or not.
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Quick Summary
Applicable
This amount is calculated basis the book profit mentioned on Form29B. The company's Chartered Accountant audits this report. However, Form 29B becomes a critical report to claim MAT credit. Hence filing of Form 29B is mandatory as per IT Act and is beneficial for the companies to claim the MAT credit as well.
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