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sec.115jb MAT Applicability

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(Querist)
02 July 2010
Can anyone tell me

Is MAT Applicable if Co. derive
profit in year under audit which is set
off against previous losses ?
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
02 July 2010 refer 115JB which clearly mentiones the deduction and addition in calculating book profit on which mat rate is applied.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
02 July 2010 Mat would be payable in such cases.

However Lower of loss as per books and unabsorbed deprecaition is allwoable for the purpose of calculating MAT u/s 115JB from book profit.
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