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Urgent 115jb related doubt
share of profit u/s 10 (2A) Is
to be excluded from book profit then what would be treatment in respect of share of loss in book profit? pls clarify with relevant section nd sub section
Replies (1)
Under section 115 Jb we ddetermining the Book profit for the purpose of computing MAT. Ther is simple provision that those income which are exempt under section 10 shall not be considered for the purpose of computation of book profit under section 115Jb. Hence if profit is not taken into considertaion then loss shall also not be taken into consideration...
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