27 August 2013
115-JB says to obtain the report in Form 29B if MAT is applicable. There are two view
1. since 115-JB is applicable to all co. than all the co has to obtain report in Form 29B and upload the same with scanned copies of balance sheet & profit & loss to income tax web site.
2. report in Form 29B is to be obtained only if mat is applicable.
Pl guide if report in Form 29B is to be obtained in all cases or not
29 August 2013
The first view is correct. Form 29B is to be furnished by ALL companies. The company may be paying tax as per normal provisions because it is higher than MAT.
Still company has to show calculation of book profit and accordingly Form 29B is to be filed.
CAclubindia
