Please join in MAT discussion
Yash Gupta
(Article)
(205 Points)
Replied 18 August 2012
You can post your queries.. I can answer them... I m doing articleship in Direct taxes only
Madhavi
(CA - FINAL)
(1342 Points)
Replied 18 August 2012
Book Profits:
Net profit & Loss as per Part II and III of Scheudle VI of the companies act, 1956
Add Back:
1. Amount of income tax paid / payable and provision thereof
2. Amounts transferred to any reserve
3. Provision for unascertained liablities
4. Provision for losses of subsidiaries
5. Dividends
6. Amount of depreciation already provided
7. Amount of deferred tax and provisions thereof
8. Provision for diminution in the value of any asset
9. Expenditure relating to exempted income under Sec10,11,12, (Expenditure relating to sec 10AA and Sec 80 IAB shall not be added back)
Saumit Patki
(CA FINAL)
(893 Points)
Replied 18 August 2012
Can you eplain why ependiture relating to sec 10AA & sec 80 IAB should not be added back?
CAclubindia
