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MAT & Income tax

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(Querist)
01 October 2010 hey frnds,

pls let me know that what to do in a case where as per ITax act & MAT, in both there is a loss .

say as per ITax- Rs.16650/-

& As per MAT calculation after all adj. book profit is Rs.8315/-.

pls also discuss other matters of Provision for Tax & differed tax...

thnks in advance...
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CA Navin Jain

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CA Navin Jain (Expert)
01 October 2010 if loss is exist as per book profit and as per income tax then no mat liability is arise
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bhavik mehta

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bhavik mehta (Querist)
01 October 2010 sir , is that loss can be adjusted even in calculation of MAT in next year....????
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CA Punit

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CA Punit (Expert)
01 October 2010 yes..
lower of:-
unabsorbed business loss or
unabsorbed depreciation

can be set off in computing book profits next year
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bhavik mehta

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bhavik mehta (Querist)
10 November 2010 i want still view over the comment of Mr. Punit Wani, if any1 can add in that , it would be more clear.

thanks to all in advance.
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bhavik mehta

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bhavik mehta (Querist)
30 November 2011 ya its clear now, thanks to all...

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