Mat provision
This query is : Resolved
chandan kumar
(Querist)
22 August 2013
As per explanatin 1 of section 115JB, brought forward losses or unabsorbed depreciation whichever is lower is deduted from net profit for the calculation of Book Profit. What it means. I mean what is the reason or logic of said provision?
CA PARTH SHAH
(Expert)
26 January 2020
In calculation of book profit under section 115JB, Lower of unabsorbed depreciation or unabsorbed brought forward loss as per books is to be deducted. There is no specific logic behind mentioned in the law. Basically the logic of such deductions is same as the losses of income tax and unabsorbed depreciation are carried forward and deducted form the income tax profits in the years when there are profits.
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