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provisions of 115jb
in this case company has to pay tax u/s 115jb the company has TDS for this situations MAT tax is deducted from tds amount after that balance mat tax is payable through self assessment u/s 140A for this how to seggregate surcharge, education cess and penalty interest u/s 234B&C
Replies (2)
a) MAT
b) Add : Surcharge 10%
c) Add : HSE Cess 2%
d) Total Tax Payable [a+b+c]
e) Less : TDS
f) Net Tax Payable [d-e]
g) Add : Interest U/s. 234A, 234B & 234C [to
be calculated on (f)]
h) Tax Payable including Interest
i) Less : Self Assessment tax paid U/s. 140A [h]
Thanks Sathish for valuable input.
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