In case a company is claiming deduction u/s 80 IC or 80 IE. Should the company pay MAT. If Yes Why? Under which provision of the IT Act?
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MAT FOR 80IC - 80IE COMPANIES
Replies (1)
Deduction u/s 80IC - 80IE is allowed for the pupose of computing profits taxable under normal provisions of Income Tax Act.
However for calculating book profits u/s 115JB deduction allowable under chapter VI - A is not an allowable reduction and hence the companies are liable to pay MAT on the profits deducted u/s 80IC
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