Following is my confusion on the applicability and calculation of MAT as per sec 115JB
In the addition clause it is mentioned that the amount of depreciation is to be added back kindly correct me if it is not as per Companies Act Dep.
In the deletion clause it was also mentioned that the amount of depreciation is to be deducted (other than on account of revaluation reserve) Here also I am taking depreciation as per Co. Act
In the same segment it is mentioned that amount of loss (before depreciation) brought forward OR unabsorbed depreciation AS PER BOOKS OF ACCOUNT, whichever is less is to be added back. Now here please correct me whether I should take/consider the amounts as per Income Tax or as per Companies Act.
Please give your expert comment on the above ,I am also enclosing the computation as prepared by me. I have not considered the Bf loss /unab dep as per Income Tax Act
For your 1 point if u look at the itr6 in the addtion column it was given that depreciation as company act should be allowed to be deducted but the depreciation attributable to the revaluation of fixed asset if debited to the p/l should be add back while calculating the book profit as per 115JB and for your 2 poing it was given that if you withdrawn any amount from your revaluation reserve and credited it to the p/l a/c then while calculating the book profit you will have deduct that amount which should not exceed the depriciation attributable to the revaluation of fixed assets and for third point it should be as per book of account
basically i am saying what the juzer said in short