Mat provision
This query is : Resolved
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?
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales return eway bill
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- STCG FOR GOLD ETFs
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Tax liability on income of freelancer
- GST ON DAMAGED GOODS
- Loan by Partnership Firm
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
