Hi,
This query is relating to AY-2011-12.
Can Income u/s 10A be claimed as deduction in calculation book profit u/s115JB (MAT)?
Beacuse the AO is claiming that we can not claim as deduction while calculating Book Profit and shoul pay the MAT on the same.
Please some one answer my query.
Thank you.
The AO is correct. Income from export of software under section 10A cannot be deducted for calculation of book profit under section 115JB.
But why this question is raised now. How did your statutory auditor signed the accounts without adequate tax provisions and what is shown in Form 29B ?
Thanks,
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
