Minimum Alternate Tax


This query is : Resolved 

(Querist)
10 December 2008 For calculation of minimum alternate tax (MAT) u/s 115JB the book profit can be reduced by the loss brought forward or unabsorbed depreciation whichever is less as per books of account.
In the following situation which is the amount that can be deducted from book profit?
As Per IT return

Business Loss Brought Forward 2,00,000
Unabsorbed Depreciation 1,00,000
Total Loss Brought forward 3,00,000

As per books of account
Loss brought forward 1,20,000

Business loss and depreciation loss is not shown separately in the books of accounts.How can it be worked out?

amrith (Querist)
15 December 2008 please give a reply

Jitender (Expert)
18 December 2008 u need to segregate dep from losses as per books of accounts & lower b/w them will be deducted (books of accounts).


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