Respected Friends,
If a Private Limited Co. is submiting after its incorporation, its first years Income Tax Return & has book profit, then whether MAT will be applicable or not or tax will be computed as per normal way of income tax computation.
Thanks
Debashis
its applicable boss, refer 115J , it is quite clear there
Yes it is applicable to all companies
YES APPLICABLE
Reffer sec 115J bt also consider sec 10AA.
mat is applicable in all company
sec.115jb decided the calculation of mat in book profit
and income tax calculated in income tax act
is higher so company has paid tax
u/s 115J, mat will be applicable. it doesnot matter, whether the company is submitting its first year return...
CAclubindia
