MAT on let out property

Sir, As per my opinion, 1)115JB talks about book profit as increased by dep charged only on revaluation of asset.and it employs the word 'depreciation debited in P&L other than on revaulation.so depreciation will be reduced from book profit. 2)Since s.50 computation of capital gain talks abot depreciable assets,mean only allowable depreciation under B&P.not HP.so indexation benefit will be allowable. -Regards

Rajesh, MAT is just a alternative way to calculate the tax and therby do not overrule income tax act.

so while calculating MAT you have to provide depreciation as per companies act and at the same time you will be eligible to Indexatin benefit.

 

Regards

Piyush