Advance tax on MAT on Companies availing deduction u/s 80 I

This query is : Resolved

CA. BIJENDER KR. BANSAL (Querist)
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14 June 2010 Dear All,
One of our group company is set up a roorkee, Utranchal. We are getting deduction u/s 80 IA (100%). Whether MAT is applicbale to company ? if Yes, whether Advance Tax is to be deposited on MAT ?
Please advise me.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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14 June 2010 MAT would be applicable as deduction under chapter VI - A is not an allowable reduction for the purpose of calculating book profit u/s 115JB.

Advance tax to be deposited as if normal tax is being paid.

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