Mat

no i dont think so..while calculating book profit for tax puposes profit on sale of assets is treated separately..it cannot be added to book profit..

it is treated under the head CAPITAL GAINS as you mentioned

Or may i did not get your question that well

You are right to some extent, since not all captal gain are taken to compute book profit for the purpose of MAT.

Long term Capital gain on sale of shares (STT paid) u/s 10(38) (which is exempt in Income Tax) are considered for the purpose of paying MAT .

In other words

LTCG shall be credited to the profit & loss account if not already credited & if there is loss it shall be debited to the same.

Thanks

dear members,

can anyone explain regarding mat?

in which case it is payable?

whether if tax paid under mat can be set off in next year against taxpayable? please give me any example regarding it