section 115JB
This query is : Resolved
07 November 2007
Whether section 115JB is applicable to a company having 100% deduction under Section 80JJA.And whether profits under sec 80JJA can be reduced from the profit as per the calculations U/s 115JB to arrive at Book Profit U/s 115JB ?
08 November 2007
115JB is applicable to companies having 100% deduction u/s 115JB. Profits under section 80JJA cannot be reduced from profits as per the calculations u/s 115JB to arrive at book profit u/s 115JB.
08 November 2007
Sec 115JB lists out the allowable deductions from net profit. the section does not allow deduction for sec 80JJA profit.
11 November 2007
Deductions u/s 115 JB will be allowed only i.r.o. specified deduction listed in section itself and the same does not allow deduction of profits u/s 80JJA.
MAT will be applicable and book profit will be caluclated including the profits u/s 80JJA.
Kind Regards
CA. Ramesh Kumar
MAT will be applicable and book profit will be caluclated including the profits u/s 80JJA.
Kind Regards
CA. Ramesh Kumar
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