14 June 2010
Dear All, One of our group company is set up a roorkee, Utranchal. We are getting deduction u/s 80 IA (100%). Whether MAT is applicbale to company ? if Yes, whether Advance Tax is to be deposited on MAT ? Please advise me.
14 June 2010
MAT would be applicable as deduction under chapter VI - A is not an allowable reduction for the purpose of calculating book profit u/s 115JB.
Advance tax to be deposited as if normal tax is being paid.
CAclubindia
