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MAT calculation
Land sale and other fixed asset in company sold on loss / profit? then what is treatment of this in MAT tax calculation?
Replies (1)
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Starting Point: Net Profit as per P&L Statement.
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General Rule: If the profit or loss on the sale of a fixed asset is already included in your net profit, no further adjustment is needed for MAT purposes because the list of additions and deductions in Section 115JB is exhaustive.
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Revaluation: Only adjustments related to Revaluation Reserves (as described in the Act) should be made if applicable to your financial statements.
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