is it mandatory to file form 29 B under section 115kb even if company is incurring loss and has receipts less than 1crore?
no tax becomes payable as per both calculations ,then also form 29 B should be filed?
please mention the relevant section
6 Replies
ankit poddar
(26 Points)
Replied 24 October 2017
Under sec. 115JB(4)any company which comes within the preview of sec. 115JB have to file form 29B. In my opinion if a company is not making profit and has no book profit after adjustments as per sec. 115JB then sec. 115JB itself is not applicable and when sec 115JB is not applicable than there is no requirement of filing form 29B.
furquan ahmad
(Article Assistant)
(129 Points)
Replied 24 October 2017
if your book profit as per section 115jb is more than Taxable Profit then you will have to file Form 29B
MohanaSundaram
(Finance Executive)
(33 Points)
Replied 03 October 2018
Filing of Form 29B:
1. The company has made a book profit
2. However, no MAT has been paid due to carry forward losses set off.
In this situation should the company file Form29B
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