A company has not filed income tax return for the last year.
Carried forward loss upto the last year is 10 lakhs.
Whether this 10 lakhs can be considered carried forward loss as per books of account for the purpose of MAT calculation ?
(If the company has filed return but, belately whether the above can be considered for MAT purpose )
Yes it can be considered, since books of accounts are prepared on the basis of schedule VI where we do carry forward loss of previous year in our books. Also the provision says that Loss as per books of accounts and (not carried forward under IT act).
Vakilsearch.com
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Vakilsearch.com
Chennai
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Gowra Ventures Pvt Ltd
Hyderabad
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