115JB

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Relevant part of MAT-Ind AS Committee Report


Relevant part of MAT Ind AS Committee Report dated 17th June 2017 containing recommendations regarding amendment to the provisions of the section 115JB of the Income tax Act 1961 in respect of Ind AS Compliant Companies Under Ind AS there are certain transactions with shareholders related parties wh

Framework for computation of book profit for the purposes of levy of MAT


Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income tax Act 1961 for Indian Accounting Standards Ind AS compliant companies A Committee had been constituted with the approval of the Finance Minister to suggest the framework for computation of bo

Govt invites suggestion on MAT framework for computation of book profit


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 28th April 2016 Subject Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income tax Act 1961 for Indian Accounting Standards Ind AS compliant compa

Amendment in MAT provisions for foreign company


Government Decides to Amend Income Tax Act 1961 so that with Effect from 1st April 2001 the Provisions of Section 115JB Shall Not be Applicable to a Foreign Company If the Foreign Company is a Resident of a Country Having DTAA with India and Such Foreign Company Does Not have a Permanent Establishme

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Experts Opinions

115jb


kindly tell me if there is loss as per books then MAY will be applicable or not

Mat under sec 115jb


Hii Sir I have a query with sec 115JB If a company has profit of 500000 and lower of Unabsorbed Depriciation and Brought forward Loss is 500000 But we Adjusted only 400000 and offered 100000 as income can we do so If not what are the consequences

115JB


In the following clause in section 115JB of the IT Act what should be taken the loss after tax or before tax and after depreciation or before depreciation iii the amount of loss brought forward or unabsorbed depreciation whichever is less as per books of account Explanation For the purposes of this

Clarification for exempt income can it be treated 115jb


kindly advise can exempt income from sale of agri land can be treated and calculated under 115JB

Provision for bad debts and book profit u/s 115jb


While calculating book profit u s 115JB should provision for bad and doubtful debts be added back to profit as per explaination 1 g to section 115JB 2 i e the amount amounts set aside as provision for diminution in the value of any asset In case of yes please quote relevant case law in case of no pl

Discussion

115jb calculation

While Calculating Tax Liability under Section 115JB The business loss or depreciation whichever is less is deducted While giving deductions whether total business loss depreciation is considered or year wise deduction is allowed

Direct Tax- Sec 115JB

hi is there any easy methods to remember the items that are in the calculation list for book profit for MAT u s 115JB

sec 115jb 2A

will you please let me know the impact of ind as transitional provisions in mat calculations and whe5het will these sec 115JB2A applicable for AY 2016 17

Waiver of term loan - credit directly to capital reserve to avoid being included in book profit u/s 115jb

Hi Can anyone suggest if waiver of loan for capital assets can be directly credited to capital reserve to avoid being part of book profit u s 115JB Regards CA Deepak Nagori

Mat profit u/s 115jb & diallowance u/s 40(a)(ia)

In thenormal income tax calculation expenses are disallowed u s 40 a ia if TDS have not been deducted from such expesnes While calculating profit U s 115JB MAT shall such expenses be disallowed also

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Section 115JB of the income tax act


SECTION 115JB OF INCOME TAX ACT 1961 SPECIAL PROVISION FOR PAYMENT OF TAX BY CERTAIN COMPANIES AFTER BUDGET 2016 This section is nothing but the Minimum Tax that a company is required to pay This section provides that in case the tax payable by a company is less than 18 5 of its books profit in any


Profit and Gain under presumptive basis vis-a-vis Section 115JB


As the number of zero tax companies and companies paying marginal tax had grown the Minimum Alternate Tax Provision has been inserted in the Income Tax Act It was felt that various concession given under the tax laws big corporate groups become zero tax companies to counter this as the system of MAT


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Updated on : 11/16/2017 3:47:08 AM



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